Oireachtas Joint and Select Committees

Wednesday, 15 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Michael D'ArcyMichael D'Arcy (Fine Gael) | Oireachtas source

Mr. Corrigan, you are welcome. In page 96 of your core documents, Mr. Corrigan, the conclusion says the sale of Anglo and INBS deposit books in January '11 which the NTMA managed and chaired. And it states:

[T]he deposits ... [sorry] the transfer of the deposits and NAMA bonds should proceed despite the operational risks involved ... The NTMA accepts that this approach is appropriate in the absence of agreement by the Troika to vary the commitment to this effect in the programme ... This is a risk but given the insistence of the Troika we appear to have no other option.

Can you comment upon the operational risks?

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