Oireachtas Joint and Select Committees
Wednesday, 2 September 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source
The minutes of the board of directors of Nationwide on 10 March 2008 deals with this issue, the fact that there was €4.5 billion going to mature. At this point, you're shut out of the markets. It talks about the society continuing to market and promote through its branches and trying to raise €1.4 billion. It talks about trying to squeeze €600 million out of the Isle of Man society. It talks about asset covered funding and trying to secure €800 million from that. It talks about €500 million in mortgage-backed promissory note, which would have been in the future, and it talks about, in terms of your loan book, which you mentioned that matures and rolls over every so years, it talked about only €900 million coming from that in the period of 2009.
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