Oireachtas Joint and Select Committees
Wednesday, 29 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source
Yes. And there's some more information on the following pages, 107-111. So essentially this was a decision by the board to increase the lending lines to the other covered banks and it's in the aftermath of the Government decision on the bank guarantee. And it seems to be to facilitate lending to each other, as such, you could buy bonds back and forth. So to what extent in your opinion did the board consider at this time that it was appropriate to, in a sense, pull on the green jersey and invest in such assets from other banks? What was the thinking behind it?
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