Oireachtas Joint and Select Committees

Thursday, 3 September 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Matt Moran:

No, I wasn't a member of the board at any time and I didn't attend that meeting and I'm not aware of that figure. What I can provide, Senator, as background is that the capital norms had changed, so Anglo had significant capital well above regulatory limits. But the market determined new limits and, as a result, banks everywhere in the world were seeking alternative sources of capital, and that public market avenues which were normal were very nervous and closed to such activities, and hence the reason to approach private equity providers and sovereign wealth providers.

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