Results 8,001-8,020 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)

Ciarán Lynch: I am sorry, but the Deputy is out of time. I call Senator Barrett. I encourage members again to return to Professor Lane's paper and to focus upon many of the issues that we have discussed here to inform the committee with the specific purpose of Professor Lane being before the inquiry this morning.

Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)

Ciarán Lynch: I have to ask the Senator to be more measured in his language. “Auto pilot” presumes a judgment on his part. If the question is have the powers increased, lessened or diminished or whatever that is fair enough. I reckon that is what he is implying.

Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)

Ciarán Lynch: Can the Senator clarify his question?

Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)

Ciarán Lynch: Is the Senator making the judgment that the Central Bank was on auto pilot?

Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)

Ciarán Lynch: I ask the Senator to be brief as we are out of time.

Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)

Ciarán Lynch: To conclude, at the start of his engagement this morning Professor Lane listed a number of policy instruments within the power of the State, whether with the Central Bank, Government or whomever, that could have lessened the exposure that was happening in Ireland. Could he rank for us in order some of those policy instruments that would have actually reduced the risk?

Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)

Ciarán Lynch: I thank Professor Lane for his participation today. It has been an informative and valuable meeting which has added to our understanding of the factors involved in the banking crisis in Ireland. I will now bring the meeting to a conclusion. The witness is excused. The committee is adjourned until 9.30 a.m. tomorrow.

Written Answers — Department of Health: Medical Card Applications (22 Jan 2015)

Ciarán Lynch: 133. To ask the Minister for Health when a determination will be made on a medical card application in respect of a person (details supplied) in County Cork; and if he will make a statement on the matter. [3086/15]

Written Answers — Department of Health: Medical Card Applications (22 Jan 2015)

Ciarán Lynch: 134. To ask the Minister for Health when a determination will be made on a medical card application in respect of a person (details supplied) in County Cork; and if he will make a statement on the matter. [3087/15]

Committee of Inquiry into the Banking Crisis: Context Phase (28 Jan 2015)

Ciarán Lynch: I welcome Professor Edward Kane to the meeting. He managed to escape from the United States of America notwithstanding the inclement weather.

Committee of Inquiry into the Banking Crisis: Context Phase (28 Jan 2015)

Ciarán Lynch: We hope we can guarantee the professor's safety here this morning also.

Committee of Inquiry into the Banking Crisis: Context Phase (28 Jan 2015)

Ciarán Lynch: With members' agreement, I now bring the Joint Committee of Inquiry into the Banking Crisis into public session. We commence this morning with public hearings with Professor Edward Kane of Boston College on banking and banking regulation. I welcome everyone to the sixth public hearing of the joint committee. We will hear from Professor Kane on banking and bank regulation. Professor Kane...

Committee of Inquiry into the Banking Crisis: Context Phase (28 Jan 2015)

Ciarán Lynch: I thank Professor Kane for his opening comments. The order of members engaging today will be Deputy Michael McGrath leading with 15 minutes, followed by Deputy Eoghan Murphy for 15 minutes, and then, in six minute slots, Senator Seán D. Barrett, Deputy Kieran O'Donnell, Senator Marc MacSharry, Senator Susan O'Keeffe, Deputy Joe O'Higgins, Deputy Pearse Doherty, Deputy John Paul Phelan...

Committee of Inquiry into the Banking Crisis: Context Phase (28 Jan 2015)

Ciarán Lynch: As opposed to an income rating scheme.

Committee of Inquiry into the Banking Crisis: Context Phase (28 Jan 2015)

Ciarán Lynch: These proceedings are broadcast live and members of the public will not be as familiar with financial discourse as are witnesses such as Professor Kane. Therefore, could he describe to the inquiry what is meant by equity capital in banking terms and what is meant by capital adequacy requirements?

Committee of Inquiry into the Banking Crisis: Context Phase (28 Jan 2015)

Ciarán Lynch: In his research paper, Professor Kane stressed how the amount of equity capital recorded on a bank's balance sheet is not necessarily a good indicator of its health. Professor Kane indicates this in his most recent comment. In a recent paper of his, he states that the idea that capital requirements can serve as a stabilisation tool is based on the presumption that, other things being equal,...

Committee of Inquiry into the Banking Crisis: Context Phase (28 Jan 2015)

Ciarán Lynch: In terms of gate-keeping, one gate-keeping measure is the role of auditors and, particularly so, external auditors. What role would Professor Kane assign to external auditors when considering his opinion that equity capital accounting systems are not simple or reliable?

Committee of Inquiry into the Banking Crisis: Context Phase (28 Jan 2015)

Ciarán Lynch: Professor Kane was referring to AIB not Anglo Irish Bank.

Committee of Inquiry into the Banking Crisis: Context Phase (28 Jan 2015)

Ciarán Lynch: I will bring in Deputy Murphy presently. Professor Kane, by your estimation, how many too-big-to-fail banks exist at present? How many of them are located in Europe and the US?

Committee of Inquiry into the Banking Crisis: Context Phase (28 Jan 2015)

Ciarán Lynch: I wish to make an intervention for a moment. These Houses examined the role of public interest directors some years ago at the finance committee. There is no such thing in Irish law, whatever about US law, as a public interest director. The State can appoint someone to a bank in the title of a public interest director, but under the law and the Companies Act that person, as a director,...