Oireachtas Joint and Select Committees

Wednesday, 15 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Pat Farrell:

Well, for a very good reason. The Clearing House Group operated under the aegis of the Department of the Taoiseach. The Clearing House Group was a multi-stakeholder group. It had financial services representation, public sector representation on it. It was chaired by the Secretary General of the Department of the Taoiseach, Dermot McCarthy, and it was charged with the promotion of the IFSC among other things, that was its broad mission. I felt, given that role and given that he was the chairman of it, that it was also important to convey the representation that I had received from what was an IFSC bank to him as well.