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Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Kieran O'Donnell: Which institution actually brought that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Kieran O'Donnell: Would ... you spoke earlier about ... would they be ... where would those documents ... where would that document now be? Department of Finance or the Department of the Taoiseach? Have you seen it in recent times?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Kieran O'Donnell: Where would it be?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Kieran O'Donnell: Can I, in the limited time ... what was in that document that was provided by the banks, in your view?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Kieran O'Donnell: What was the definition ... what did it include?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Kieran O'Donnell: What do you think it was?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Kieran O'Donnell: So senior bonds to be included-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Kieran O'Donnell: And was it a two-year guarantee?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Kieran O'Donnell: Okay. When the banks left and the draft you spoke about ... the draft going over and back, were the banks present in the room when that ... when it was being revised?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Kieran O'Donnell: So, Mr. ... I am taking it that Mr. Cardiff did up a draft, he brought it in and out of the room. Did it at the end of the night reflect in substance what the banks had brought in, day one?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Kieran O'Donnell: You are a highly experienced public servant, civil servant.

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Kieran O'Donnell: And Mr. ... the Central Bank's draft that they brought, which was a six-month guarantee, purely on deposits, no mention of bonds of any form, either senior or other, where did that draft ... did you have sight of that draft in the meeting that took place?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Kieran O'Donnell: Okay, can I Chairman, can I ... is it in order to direct Mr. McCarthy to the e-mail that Pat Farrell would have submitted to him? It was in the book of evidence-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Kieran O'Donnell: -----from earlier?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Kieran O'Donnell: It stated the-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Kieran O'Donnell: Yes, Chairman, it's D0T00347001.

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Kieran O'Donnell: Page 83 of Vol. 1 in Mr. Farrell's.

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Kieran O'Donnell: And effectively it's very simple, it says: Dermot, we need your support on this - IFSC banking has been completely overlooked. The issue is as relevant to retail banks and has to covered bond banks at IFSC. From Pat Farrell. That was on 15 October. I want to direct you to Vol. 1 of your own book of evidence, and it specifically deals with page 95, which is the IFSC Clearing House...

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Kieran O'Donnell: I'd say it was more than forwarding now. It says, "...we need your support on this". It's a little bit stronger now than saying-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Kieran O'Donnell: Yes. Sorry, yes. If you read it, I would take "...we need your support on this" as being slightly different from saying, "Please find enclosed the e-mail that has just been forwarded to us."

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