Oireachtas Joint and Select Committees

Wednesday, 17 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Tom Considine:

No, actually it was done within the regulator. Our function was mainly around who was going to pay for it, right. And initially, as I recall it, 50% was levied on the industry and 50% came from the internal resources of the Central Bank. Originally, I think the McDowell group recommended that the industry should pay the whole lot. And, obviously, you can make a case for that.