Oireachtas Joint and Select Committees

Thursday, 25 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Professor Patrick Honohan:

Yes, a question arose about the contractual arrangements that people who did the work on the stress testing in 2011 for the Central Bank, and I probably ended up giving the impression that the Central Bank had .. might not have been carefully designing the contract, so I had the opportunity to look at the contract in the course of the lunch time and ... there's a page of stuff about confidentiality and conflicts of interest. So that, in fairness to staff at the Central Bank, they covered that off to the extent it can be covered off in a contract.

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