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Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: I can give Mr. Dukes a typical example. A standard three bedroom house is worth somewhere between three to four times the average industrial wage. That is what good lending practice is based on.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: There we go. We are talking about between three-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: It is, according to the Central Bank, because it issued a report in 2009 stating this is what lending practice should be. The question Deputy Twomey asked, and to which we would like to hear the answer, because it reflects IBRC's property book, is whether we are approaching real value in the property market.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: In the residential property market-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: I agree with Mr. Dukes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: Excuse me, one second-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: The Senator has a couple of minutes left. Does she want to ask about the MARS process or does she want to move on to a different topic?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: The Senator is asking too many questions.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: She has just a couple of minutes, so she should be focused.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: Instead of compositing a number of speakers and questions together, we are on the third round of questions so I will assign six minutes per questioner. Deputy Peter Mathews, Senator Paul Coghlan and Deputy Kieran O'Donnell can use the six minutes to speak or to ask questions.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: The Deputy has three minutes remaining. He may continue speaking or may use that time to allow the witnesses to respond.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: It does not matter how important it is the Deputy has only three minutes remaining. He may prioritise what he wants.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: Mr. Dukes may only have time to nod at the end as I may not be allowed to bring him back in to respond to Deputy Mathews's comments.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: Fair enough.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: The point is whether the Deputy wants them answered.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: Those are all the questions we can take from the Deputy.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: The Deputy must obey the Chair. Only two minutes remain for a response and I wish to allow the witnesses to come in. I will bring the Deputy in sooner on another occasion if the Deputy behaves himself.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: Perhaps, but the Deputy does not behave himself here.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: The Senator should put his questions now.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: Is the Senator just making a few comments?

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