Oireachtas Joint and Select Committees

Wednesday, 15 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Pat Farrell:

We had no line of sight on anything specific because we know that from, I think 2007, internationally, there was a challenged liquidity environment and, through 2007 and 2008, that, obviously, became aggravated. So, naturally, there was an international backdrop and it did come to wash on our shores of issues around liquidity, tightening up of wholesale funding access to it, all of that kind of thing. But, we weren't involved in any specific discussions, or even general discussions, about guarantees or the like.

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