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

As we have a quorum, the Committee of Inquiry into the Banking Crisis is now in public session and can I ask members and those in the public Gallery to ensure that their mobile devices are switched off.

We begin today's session 1, public hearing with Mr. Peter Fitzgerald, former director of corporate and retail treasury, Anglo Irish Bank, and in doing so, I would like to welcome everyone to the public hearings of the Joint Committee of Inquiry into the Banking Crisis. This morning, the focus of the inquiry is on Anglo Irish Bank. At our first session, we will hear from Mr. Peter Fitzgerald, former director of corporate and retail treasury at Anglo Irish Bank. Mr. Peter Fitzgerald joined Anglo Irish Bank in 1998. While working in the treasury division, he developed a retail savings franchise in Ireland and the UK. He was director of corporate and retail treasury from 2006 to 2008 and Mr. Fitzgerald now works as an adviser to startup and SME companies in Ireland in the areas of strategic planning, corporate communications and business development. Mr. Fitzgerald, you are very welcome before the inquiry this morning.

Before hearing from the witness, I wish to advise the witness 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 are directed by the Chairman to cease giving evidence in relation to a particular matter and you continue to do so, you are entitled thereafter only to a qualified privilege in respect of your evidence. You're directed that only evidence connected with the subject matter of these proceedings is to be given and 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. Therefore, 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 the 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 screens to your left and right. Members of the public and journalists are reminded that these documents are confidential and they should not publish any of the documents so displayed.

The witness has been directed to attend this meeting 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 upon in questioning and form part of the evidence of the inquiry. If I can now ask the clerk to administer the oath to Mr. Fitzgerald, please.