Oireachtas Joint and Select Committees

Thursday, 2 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Brian Cowen:

There was a letter of instruction, as I understand, because they said they required a direction on that and they were always very mindful of their own independence. I wasn't aware ... I'm not sure it was being withdrawn from all banks, they had a specific issue with that bank and it was suggested to me that a letter of instruction would be appropriate so that people would understand that there wasn't something happening there that the NTMA were, in some way, not supporting an Irish bank.

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