Oireachtas Joint and Select Committees

Wednesday, 22 April 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Brendan McDonagh:

No, there would have been meetings with the Department of Finance and the Central Bank, would have had, and we would have been invited along to those meetings, and there would have been a view expressed that the NTMA could give a credit line, use it ... because we had extensive cash resources at the time, between the National Pensions Reserve Fund, between some cash we were managing as part of the Social Insurance Fund, which was in surplus, between some cash we had ... we had raised a lot of money in the debt markets, and-----