Oireachtas Joint and Select Committees

Wednesday, 27 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Tony Grimes:

Only indirectly again, but I would have been present at meetings with some of the banks at a time when the Irish banks, as a group, were under stress in liquidity terms and, as happened elsewhere, I think, there would have been a view that, in the light of those circumstances and in the light of circumstances in which the money market, the euro area money market, was becoming increasingly sort of nationalised and segmented; that, from a financial stability point of view, it wouldn't make sense if Irish banks were to pull their lines with each other.