Oireachtas Joint and Select Committees

Wednesday, 9 September 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of John Paul PhelanJohn Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

In your witness statement you advise regarding to the guarantee:

I first heard of this as the main option being considered at an Emergency Joint Central Bank meeting on 25 September but it must have been worked on much earlier. The Governor of the Central Bank and the Department of Finance briefed the Board and indicated that a guarantee of the liabilities of banks was being considered.

I have about...there's five parts to the question, brief answers if you can. Did the Governor and-or the Department of Finance advise how a guarantee solution came about?

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