Ciarán Lynch (Cork South Central, Labour)
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I propose that we go into public session, is that agreed? Agreed. As we have a quorum, the Joint Committee of Inquiry into the Banking Crisis is now in public session. Can I remind members and those in public Gallery to ensure that their mobile devices are switched off?

Todays' session 1 is a public hearing discussion with Mr. Richie Boucher, group chief executive of Bank of Ireland. In doing so, I would like to welcome everyone to the 23rd 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 after the crisis. This morning we will hear from Mr. Richie Boucher, group chief executive, Bank of Ireland. Mr. Boucher joined Bank of Ireland as chief executive of corporate banking from the Royal Bank of Scotland in December 2003. He was appointed chief executive of retail financial services Ireland in January 2005. He has been the group chief executive officer since February 2009. He is the past president of the Institute of Banking in Ireland and of the Irish Banking Federation. Mr. Boucher you are welcome before the inquiry this morning.

Before I hear 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 so do, you are 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 therefore 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, those 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 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 and you have been furnished with booklets of core documents. These are before the committee and will be relied upon in questioning and form part of the evidence of the inquiry. So with that said, if I can now ask the clerk to administer the oath to Mr. Boucher.