Oireachtas Joint and Select Committees

Thursday, 2 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Brian Cowen:

No, an issue arose when the Secretary General asked me ... who was a member of the NTMA, asked me ... told me that the NTMA chief executive, who ... they're very strong on their independence, they wanted a written letter that they were to continue providing funds into the Anglo Irish Bank. In terms of deposits, overnight deposits, it was felt that, if it were to emerge that they weren't doing that, that that might reflect badly on the banking system generally. So that direction was written for by me in January of 2008 for a six-month period-----

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