Oireachtas Joint and Select Committees
Thursday, 11 June 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Eoghan Murphy (Dublin South East, Fine Gael) | Oireachtas source
Okay, thank you. And then just a final question in relation to your opening statement and again, it's on page 6 and it's in relation to the IFSC, talking about sector limit and it came up earlier. You talked about, the Central Bank had effectively relaxed these limits in the 1990s, in particular to facilitate the arrival of one large foreign bank which had a major sector exposure. It was then felt that foreign and domestic banks had to be treated the same in order to avoid giving substance to any impression that Ireland was host to an offshore centre that was being treated more lightly than its domestic banks.
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