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Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael D'Arcy: So a board within a board?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael D'Arcy: A board within a board?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael D'Arcy: Was that your impression, Mr. Aynsley?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael D'Arcy: Can I ask my final question to both of you? Was NAMA a mistake?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael D'Arcy: And, sorry, Mr. Dukes, the €42 billion discount, the haircut, how much of that will be achieved by the State?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael D'Arcy: I know, but the-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael D'Arcy: Mr. Aynsley, The New York Times article "[Could] one bank bring down a country?" Are you ... The New York Timesarticle "[Could] one bank bring down a country?" Were you aware of that article?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael D'Arcy: Do you think it is a fair headline? Do you think it is accurate?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael D'Arcy: I asked you was it a fair headline?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael D'Arcy: Mr. Dukes, can I ask you in terms of the Nyberg report, it stated that the banking crisis was home grown, although there were international impacts. Do you agree with that assertion?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael D'Arcy: And, Mr. Aynsley, the same question to you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael D'Arcy: Mr. Nyberg said that the banking crisis in Ireland was homegrown.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael D'Arcy: Do you agree with that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: Thank you, Chairman. Mr. Fingleton, you're welcome.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: The document, Chairman, if you could bring it up please, is Vol. 1 INBS page 68 and 69. Mr. Fingleton, it is the Deloitte report in relation to the commercial and residential lending review, completed in May 2008. The reports states: the Society reviewed and revised its commercial and residential lending policies ... in December ['07]. Of particular note for commercial lending was the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: You were against it.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: Okay. It was a small-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: It was a small-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: It was a small board, Mr. Fingleton. Do you know who was personally in favour of it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: In your opinion was the relaxation in lending criteria appropriate, given the Financial Regulator's ongoing concerns regarding commercial property lending control and the risk management within the society?

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