Oireachtas Joint and Select Committees
Wednesday, 27 May 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Tony Grimes:
I think the Lehman's issue was, you know, a major one. I mean, you could see that from the perspective of the ECB as well, that the concentration on having to put in place special liquidity issues became very intense from that time and I guess the system as a whole was following issues like what was happening with Freddie Mac and Fannie Mae, AIG and all the events in the US, in particular. So it was building up to the end of the month when, I think, the real issues emerged over the weekend in Europe in terms of some of the European banks which required special interventions.