Results 9,321-9,340 of 16,492 for speaker:Ciarán Lynch
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Right.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Well, was there any time, let's say between 2002 onwards ... NAMA's testimony yesterday said that AIB's book doubled in a very short period of time.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Other banks' trebled or quadrupled. Was there any view at that time, at board level, that somebody was eating your lunch and that you were going to go after it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: But the question, and I'm going to move on after this, did AIB, to your interpretation-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: -----radically change the type of business model that it was historically using in the 2002 period-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Okay, and so-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: So, how did the bank double, if it didn't change its model?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Okay. So, were you mirroring their practice?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: All right, thank you. Deputy Kieran O'Donnell.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: He needs some space to answer the question.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Mr. Gleeson?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Mr. Gleeson, I want to return to a particular line of inquiry that the committee signalled to you prior to you coming in today, and that's the adequacy of the board oversight over the internal controls to ensure that risk is properly identified, managed and monitored.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Now, that's in particular regard to, under EEC ... EC Treaty, these rules, the bank was obliged ... the reference will come up there as I'm talking, so don't worry too much about that. Under the EC state aid rules the bank was obliged to submit a structuring plan to the EU Commission, and this was finalised in April 2010. I think it was then updated again in July 2011 and further revised in...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Yes, and it is on the monitor above. The AIB acknowledges - and it's in brackets - "its decision to expand into property was misguided, and that its risk management and internal governance systems were not as effective as they should have been in controlling their risk." Could I ask you to comment on it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: But with respect of your period.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Okay, but do you think that the admission in it that the bank was misguided and that its risk management and internal governance systems were not as effective as they should be; now, are you in agreement or disagreement with that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: -----because it's a judgment on your period as chairperson-----