Oireachtas Joint and Select Committees

Wednesday, 24 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. William Beausang:

I mean, our track record or the work that we did in financial stability planning goes back to when I joined the Department or rejoined the Department in April 2005 at assistant secretary level, and there's, you know, as reflected in my written evidence there's a number of, kind of, you know, milestones or phases to our work over that period, leading to the point that the DSG is established. But, I mean, just to be very clear, I mean, in terms of the work that Kevin was referring to, it was very much under the aegis of the DSG, it was very much related to the DSG, it was us going back to the Financial Regulator and the Central Bank and saying, "Well, this is what we're doing, this is the legislation that we're preparing, these are the legal questions that we have". So that was the ... that was the kind of the framework for the work that was being carried out in that area.

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