Oireachtas Joint and Select Committees
Wednesday, 17 June 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. David Doyle:
What the State was guaranteeing was borrowing. To conclude that they were all solvent, you would have to be absolutely certain that the assets were in each company to back up those loan exposures. The fact that they were being guaranteed meant that if a deficit arose due to solvency, that the State would step in and provide capital. So, in that broad sense, what he said is right.
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