Oireachtas Joint and Select Committees
Thursday, 25 June 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Professor Patrick Honohan:
Yes, I did. So, if we talk about the total exposure of the ELA, plus normal operations, it rose from €62 billion at the end of August 2010, and I'll give it to you month-by-month then: to €100 billion at the end of September; €109 billion at the end of October; and €131 billion at the end of November. Now, the ELA component of that, it was €12.7 billion at the end of August; it went to €26 billion at the end of September; €33 billion in October; and €45 billion at the end of November. The peak day for exposure of the euro system and the Central Bank to the Irish banking system was actually 24 February 2011, when it reached ... instead of end of November, I told you, €131 billion; 24 February was €153 billion. Now, the reason it spiked on that day, because that was the day when the deposits were shifted from Anglo Irish Bank to the purchasing bank so it was that manoeuvre around that.
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