Oireachtas Joint and Select Committees
Thursday, 9 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Brendan McDonagh:
I think it was both, Chairman. It was ... I suppose, it had spectacular growth and we were always very cautious about the amount of money that we would place on deposit with them and even though our counter-party credit limit policy gives a certain amount of deposits we could place based on the credit rating, their credit rating merited a €75 million deposit and we wouldn't ... we never went above €40 million.
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