Oireachtas Joint and Select Committees
Wednesday, 24 June 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Joe Higgins (Dublin West, Socialist Party) | Oireachtas source
It must be the most wanted missing document in Irish banking history but we'll have to leave it there for the moment. I just want to move on quickly, Mr. Beausang, to your core evidence page 13. You don't really need to bother looking at it. It is in relation to an institution that is insolvent or approaching insolvency. This document which was referred to earlier, a brief to the domestic standing group ... financial stability issues scoping paper rather. "If a period of liquidity continues it is likely that an [illiquid] institution will move closer to insolvency." And then later, "it becomes insolvent because of its illiquidity". Given the liquidity problems that were becoming evident in financial institutions in 2008, were there mechanisms that you identified or employed to try to identify if financial institutions were becoming insolvent, in danger of becoming insolvent at that time?
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