Oireachtas Joint and Select Committees

Wednesday, 2 September 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Michael Fingleton:

The purpose of that meeting ... from the regulator's point of view, they felt and believed that, following the Reuters report, there might be a run on the society or that there would be a run on the society the following Monday or whenever it was ... the following day - maybe the following Monday, I think it was - and that they wished to establish whether a major bank would supply, if the society needed it, some liquidity. Now, Deputy, it is clear from evidence given to this committee that the society didn't need any liquidity to absorb any run or withdrawals caused by the false Reuters report.

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