Oireachtas Joint and Select Committees

Wednesday, 6 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Richie Boucher:

Deputy, if I could point out, I think there may be some confusion. I think there's been a copying of a minute from 30 September. The back page of that minute is attached to one of 29 September. I can provide to the committee the actual minutes of the 29th and the 30th, both in draft form. So the comment I made was on 30 September. I recall that comment. It was the day after the guarantee. And there were particular issues which were emerging that certain banks, we were aware, were starting to say that it was Bank of Ireland had asked for the guarantee for themselves. I was at a meeting of the Irish Bankers Federation that morning and the meeting had been requested to be ... in particular, to focus on things that ... like we were not permitted to market the guarantee and there was a request from the Irish Bankers Federation. One or two of the people from a couple of other banks had mentioned that, "We heard you guys went in and asked for a guarantee for yourselves." And we were hearing from some of our dealers that that rumour was going around in the market. I was annoyed and also I felt it was appropriate and necessary that we made it clear in the market that Bank of Ireland hadn't gone in and asked for a guarantee for itself.