Oireachtas Joint and Select Committees

Thursday, 3 September 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Joe HigginsJoe Higgins (Dublin West, Socialist Party) | Oireachtas source

Okay, move on for time, Mr. McGann, and at a board meeting on 12 December 2008, it was reported that Mr. Drumm, chief executive, and Willie McAteer, had met with Mr. Hurley, then Governor of the Central Bank, and Mr. Grimes of the Central Bank at which a figure of €3 billion of new capital was acknowledged as being needed. So this was December 2008, a few months after the bank guarantee. On the night of the bank guarantee, were you aware that Anglo would require this quantum of additional capital in order to remain solvent and what would your assessment be of the bank's liquidity and solvency position at the time of the guarantee?

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