Oireachtas Joint and Select Committees
Wednesday, 9 September 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Alan Gray:
And it was in January 2009 that I had come to the firm view that additional capital was required. The banks had been told to do very detailed stress testing and they came back and said that they didn't need additional capital to meet regulatory requirements and to deal with the levels of expected bad debts. And some PwC scenarios were suggesting the same issues and I just did not believe that was correct.
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