Oireachtas Joint and Select Committees
Wednesday, 17 June 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source
Thanks Chair. Mr. Doyle, you're very welcome. Can I just continue along the theme that the Chairperson opened up there. You have confirmed that draft legislation to nationalise a bank was prepared and similarly to issue a guarantee. Was there special resolution legislation prepared, which would have enabled the Government to take a bank into State custody, as such, to separate the deposits from the bondholders and to execute an orderly wind-down of a bank, involving the bail-in of bondholders?
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