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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