Sunday Independent to reveal more Anglo tapes

Sunday 07 July 2013 10.21
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More secret recordings of ex-Anglo Irish Bank CEO David Drumm emerge
More secret recordings of ex-Anglo Irish Bank CEO David Drumm emerge
Former Anglo Irish Bank executive John Bowe heard discussing liquidity crisis on taped conversations
Former Anglo Irish Bank executive John Bowe heard discussing liquidity crisis on taped conversations

Further transcripts of conversations between senior bankers at the defunct Anglo Irish Bank are due to be published by the Sunday Independent. 

In the recordings, former chief executive David Drumm and the bank's then head of capital markets John Bowe are heard discussing how the bank could fall below the minimum requirements for liquidity levels.

In a conversation sometime in late August or early September 2008, they discuss how close Anglo is coming to breaking rules on the amount of liquidity it should keep in reserve. 

Included among the latest tapes are mention of discussions that Anglo held with Irish Life and Permanent around that time and others about meetings with the National Treasury Management Agency.

Anglo did eventually alert the Central Bank in advance that it was going to breach its liquidity ratios.

It is understood a number of Irish banks breached their ratios in September 2008.