Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

I now call the meeting into public session. Is that agreed? And as we've a quorum, the Committee of Inquiry into the Banking Crisis is now in public session, and can I remind members, and those in the public gallery, to ensure that their mobile devices are switched off? We begin today with session one, public hearing, discussion with Mr. Laurence Crowley, former governor, Bank of Ireland, and Mr. Richard Burrows, former governor, Bank of Ireland.

I would like to welcome everyone to the 26th public hearing of the Joint Committee of Inquiry into the Banking Crisis. Today we continue our hearings with senior bank executives who had roles during and before the crisis. This morning we will hear from witnesses from Bank of Ireland, both governor ... both former governor, Mr. Laurence Crowley, and Mr. Richard Burrows. Dr. Laurence Crowley was governor, i.e. chairman, of the Bank of Ireland from 2002 to 2005, having previously been deputy governor from 1995 to 1997, and a non-executive director from 1990 to 2000. Previously he was a partner in KPMG Stokes Kennedy Crowley, chartered accountants, where he specialised in corporate structuring and insolvency. Richard Burrows was governor of Bank of Ireland from 2006 to 2009 and a non-executive director from 2000 to 2005. He has held senior positions within the drinks industry, including chief ... or co-chief executive of Pernod Ricard and CEO of Irish Distillers Group. Mr. Burrows is currently the chairman of British American Tobacco, a role he has held since 2009. Dr. Crowley, Mr. Burrows, you're very welcome before the inquiry this morning.

Before I engage with the witnesses, I wish to advise the witnesses that by virtue of section 17(2)(l) of the Defamation Act 2009, witnesses are protected by absolute privilege in respect of their evidence to this committee. If you're directed by the Chairman to cease giving evidence in relation to a particular matter and you continue to do so, you're entitled thereafter only to a qualified privilege in respect of your evidence. You are directed that only evidence connected with the subject matter of these proceedings is to be given. I would remind members and those present that there are currently criminal proceedings ongoing and further criminal proceedings are scheduled during the lifetime of the inquiry, which overlap with the subject matter of the inquiry. The utmost caution should be taken not to prejudice those proceedings. Members of the public are reminded that photography is prohibited in the committee room. To assist a smooth running of the inquiry, we will display certain documents on the screens here in the committee room.

For those sitting in the gallery, these documents will be displayed on the screen to your left and right. Members of the public and journalists are reminded that these documents are confidential and should not publish any of the documents so displayed. The witnesses have been directed to attend these meetings of the Joint Committee of Inquiry into the Banking Crisis, you have been furnished with booklets of core documents. These are before the committee, will be relied in the questioning and will form part of the evidence of the inquiry. I will now ask the clerk to administer the oath.