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Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: Nine banks. And what would have been discussed ... what would have been the primary issues?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: In ... in your witness statement, Mr. Grimes you state that ''Liquidity issues were also raised at the Roundtable with the banks in February 2008''. In what form did that ... what way did you raise that liquidity? Was solvency raised with the banks at that time?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: Was the meeting ... would you regard the meeting as a regular meeting or at that time would you regard it as a crisis meeting?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: And did you regard liquidity issues at that time as being of an urgent nature?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: Can I move on to the period at which you were acting Governor which was from 19 July to 15 September and just to look at that period? And I suppose, the things I want to discuss on are the type of representations, views or advices that were provided by the Central Bank to the Government or the other advisers regarding the bank guarantee and the extent of the discussions with Government. And...

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: What, what date was that in August with ... in Frankfurt?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: Had you another meeting in Frankfurt early September?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: How early would that have been, first week?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: Okay, and you might just take us to there in terms of your interaction with ... with Jean-Claude Trichet and the ECB and their view on, in terms of Ireland and the banking sector.

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: I suppose what I want-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: In the limited time I have, Mr. Grimes, what was the general policy around saving or not saving banks in terms of any bank ... no bank to fail, in terms of the approach from the ECB?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: So you'd no specific discussions with the ECB in your tenure around how to ... the approach on the Irish banking situation?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: What would ... what was your interaction with Government during your time, tenure as Governor of the Central Bank-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: -----on the same issue, in terms of the bank situation and giving advice in terms of a potential bank guarantee and so forth?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: When you say the intensity, what was generally the ... the general-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: And what do you think? Do you believe ... What was the ... the defining moment in terms of the banking crisis for Ireland?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: Now, are you ... you were present in Government Buildings on the night of the guarantee, Mr. Grimes, is that correct?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: What meetings were you present at?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: Were you asked for your opinion, Mr. Grimes?

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