Oireachtas Joint and Select Committees
Thursday, 19 October 2017
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Engagement with the Central Bank of Ireland
9:30 am
John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source
Will Professor Lane provide the committee with the minutes of meetings? If I give information to him that I have received as Chairman rather than go through it now, will he give me a written response to the queries raised in the letter? A liquidity breach nearly 20 times over the limit is significant. There were a number of other breaches and nothing seems to have been done about them. This goes back to the earlier point that it sends all the wrong signals. A risk manager - in this case Mr. Sugarman - went to the bother of doing what he did and the answer from the Central Bank was that there was "nothing to see here, move on". There was proof - it is here - that the liquidity requirement had been breached and there were serious questions to answer. I want to know, rather than delay the delegates, if I give Professor Lane all of this information which is in the public domain, will he respond comprehensively to the committee on this matter?
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