Oireachtas Joint and Select Committees

Thursday, 9 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Brendan McDonagh:

I don't, Deputy, but up until, I suppose, May 2009 there was quite an active Irish bond market, and the NTMA ran a secondary trading desk to ensure that there was liquidity in Irish bonds the whole time. And you had a situation that you had loads of international banks wanting to be primary dealers in Irish Government bonds, because, obviously, we'd a very low debt ratio - it had gone down to 25% - and I suppose there was a scarcity value of Irish bonds, you know, I suppose in the crisis because our debt was very low. So the volumes of activities in 2010-2011, I just don't have that information. But I'm sure my colleagues in the NTMA, if the committee wants it, can be ... can be ... they can provide it to it.

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