Oireachtas Joint and Select Committees

Wednesday, 9 September 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Ciarán LynchCiarán Lynch (Cork South Central, Labour) | Oireachtas source

I just want to deal with one ... just one outstanding item, another question, and then I'll bring in Deputy Doherty. Mr. Gray, in your witness statement you advise:

In attempting to respond to the crisis, extensive use of external advisers was made by the Department of Finance. This included both international financial and legal advisors. Their advisory reports were not shared with the Central Bank non-executive directors and I have only briefly seen some of these subsequently when they have been publicly released.

Were you surprised that the advisory reports were not shared with the Central Bank non-executive directors?

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