Results 9,401-9,420 of 16,492 for speaker:Ciarán Lynch
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: I have heard the expression kind of used sometimes, maybe on the roads of west Cork, that people would say the rules of the road are a suggestion. In this case the rules of the road are actually the law. Were these rules that were regulated, steadfast rules, or were they interpretive rules?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: I want to try to establish then, on foot of that, Mr. Forde, is, obviously whether it's a guideline or a rule, I would imagine there would be a mechanism - correct me if I'm wrong - that in AIB somebody would say, "Hang on a second, we need to be looking at this," and it gets fed up the line. How far up the line-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Fed down the line?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: So the board would have been aware of this?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Okay. So, the ... so, at board level in authority then would feed this down the line. Okay, so what was the remedial action, because the outcome seemed to have been that you now went up to 390% by September 2008? One would imagine that the action was to break this down or to slow it down and to calm the jets, but in fact it went the other way. So, what was the action, because if the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: That's not the ... but that's not the question I'm asking you, with respect, Mr. Forde.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: We know that you were in an area that you were breaching, whether these were guidelines or rules and, correct me if I'm wrong, one would assume that the then desired action would be to get more congruent and in line with what the rules are, but the outcome over the two year period was to go further beyond the limits. So, was there a direction to calm things down or was there any direction at all?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: I'm not going to labour over the point, but it was 260%, above 250%, which is marginally above it, but it was then 390%, which would seem to have been quite a distance. I raised this with Mr. Gleeson this morning and I'm just wondering if these figures are related to the point I was making. There was a suggestion that other banks may have been eating AIB's lunch, and particularly in the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Okay, thank you. Deputy Kieran O'Donnell. Deputy, ten minutes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: That is leading ... can you ask would they be ... which-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Was there?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: I'm available.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Sorry, Deputy, you are moving into lecturing-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Just ask a question please because you're running out of time.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Deputy, I am going to make an interjection here. You are running out of time and your questioning is running out of line. Can you put a question?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: You're out of time. Question please.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: I'll take a very short answer on this because I've other matters that I need to be dealing with before we go to the break that maybe should be dealt with during this session.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Taking matters a little bit back on track with you before we go back on the break there Mr. Forde, I am just delving into kind of ... just certain operations in the bank with regard to risk. And in ... the reference document for this is going to come on screen in a moment. It's AIB, Vol. 2, pages 13 and then 21. They are appropriate to staffing and training and so forth. But, in a group...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Maybe you might like to comment upon that.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: And that kind of brings me on to what will be my final question before we go for the break. As the market conditions were then deteriorating and the loan impairments began to increase, Mr. Forde, did you consider, or was there consideration in AIB at that time, that you had sufficient trained staff with the appropriate skillset to deal with the arrears collections and manage prominent loans?...