Oireachtas Joint and Select Committees

Wednesday, 8 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Susan O'KeeffeSusan O'Keeffe (Labour) | Oireachtas source

And there's another document then that went with that, there were three or four documents that went together. "Summary of key information re Irish banks", this is DOF03372, "Virtual cessation of normal wholesale lending activity, where all banks have in recent years sourced a growing share of their funding." And then it gives detail of the various banks:

In summary ... the concerns that initially lead to credit markets seizing up last August are persisting. Major financial institutions continue to disclose major write downs.

Now when you left, when you were here last week, in your own evidence you said when you left the Department, you say, you had a co-ordination mechanism in place at the Department but you said there wasn't a crisis at this point. However, these are the documents that were handed to Mr. Lenihan. Are you saying therefore that there wasn't, those, those observations and those documents did not amount to a crisis?

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