Oireachtas Joint and Select Committees
Wednesday, 17 June 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. David Doyle:
Well, the only information I would have in relation to the National Pensions Reserve Fund, what happened behind it ... when I was leaving, there was a significant cash reserve there and the conclusion of the Minister - with the advice of the Department - was that that cash reserve, while it was supposed to be for the longer term, needed to be used in the emergency that we had and he took steps to ... I think to provide for directed ... directive investment powers in relation to the fund. So, obviously that translated into action later on.
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