Oireachtas Joint and Select Committees

Wednesday, 15 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

Yes. Can I ask you finally, you told the finance committee on 2 July 2008 that the banks ... the sector was well capitalised, profitable and had strong shock absorption capacity. This was within a couple of months of many of those same banks going bust. Were you aware, as head of the IBF at that time, of issues such as that Nationwide were frozen out from the wholesale market, ECB funding not available to them? Were you aware at that time in relation to the contracts for difference issue and Seán Quinn? Were you aware of the funding difficulties that other members of your organisation had, such as Anglo Irish Bank and Irish Nationwide? Were you aware of their exposure to the commercial property loan book? You know, how does ... how do you feel about that statement and were you aware of those issues at that time?

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