Oireachtas Joint and Select Committees

Wednesday, 24 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. William Beausang:

I mean at the time, broadly what was reflected back, I mean, from colleagues in the Central Bank was that the ... in other jurisdictions, the placing of deposits by their, the equivalent of their NTMA you know, was demonstrating that there was confidence in the institutions that those deposits were placed. So ... and it was something that the ... Kevin Cardiff was closer to and is more directly involved in terms of talking to the NTMA and the Minister at the time. But there was a move to seek to demonstrate confidence in the institutions, to demonstrate confidence in the institutions, all of the institutions, by ensuring that the NTMA placed deposits with those institutions but I'm not really au fait with the details.

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