Oireachtas Joint and Select Committees

Wednesday, 24 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Kieran O'DonnellKieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

It's completely deleted. So those two issues which are to do with the liquidity of the banks, to do with putting in place a special swift procedure for closing failed banks, which is a resolution mechanism and, secondly, about insolvency legislation being enacted for banks, they are completely deleted with the final report. That's seven months before the guarantee is put in place. The question I want to ask is who would have reviewed the report? Would the Minister of the time have been involved in reviewing the report? Who would have interacted with the OECD? And did we find the situation where the key elements which the OECD had identified, which came to pass - liquidity of the banks and the insolvency of the banks - are completely deleted from the draft final report?

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