Oireachtas Joint and Select Committees

Thursday, 30 April 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Brian Goggin:

-----we left the room, and I obviously had to consult with my colleagues back in Baggot Street by conference call. Five billion euro was a big ask. We certainly didn't have that liquidity available on the spot, and to cut a long story short, we were able to conclude that by participating in the weekly ECB tender for normal market operations on Wednesday, we could post collateral - because Bank of Ireland had lots of collateral - we could post collateral and come up with €5 billion to meet the request of Government to assist-----