Results 11,421-11,440 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: I might add now that the ... that that comment was subsequently withdrawn and added to so ... and it was dealt with an earlier engagement, Deputy - I think actually with yourself - and I think I ... I'm not too sure, whoever it was, but I did get that re-clarified and maybe Mr. Neary is aware of the re-clarification that was put on that as well, I'm not too sure.

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: You've no comment to make on it.

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: Thank you very much, Deputy. Could I just ask one question, following Deputy O'Donnell's line of questioning with you, Mr. Neary, and that is, if the banks had lent €440 billion and the Irish economy was worth €160 billion, how do you think the banks had enough capital to withstand the property downturn?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: Mr. Neary, the banks were four times the size of the Irish economy. Did that not send off a flag to you, in your office, and others in the regulation office and in the Central Bank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: But Mr. Neary, what we know from your testimony this morning is that the measures to introduce higher risk ratings for residential mortgages came very late in 2008 and on commercial property loans into 2007. I mean, we have testimony here that consistently, and I think Mary Burke gave it yesterday afternoon and others did, that by 2006, the game was over. It didn't matter how many staff...

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: During that time, Mr. Neary, were you masters of your own fate in making these decisions or were there external agencies saying to you, "The economy is booming, there's a lot of income coming in in these sectors, don't scare the horses or whatever"? Or were these decisions that you ... there were no decisions in regard to the matters I spoke about before 2006 and 2007. Were you in complete...

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: From 2001, 2002 onwards we saw this massive growth in lending-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: -----resulting in four times the size of the Irish economy. There were interventions made in 2006 in the property sector and the commercial sector in 2007. So in the preceding years before that, action or inaction is a decision. So was it a decision not to actually engage during the pre-2006 period?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: So that's an action?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: Deputy John Paul Phelan.

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: The question is made Deputy. Mr. Neary?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: No, I'm saying the question is made. You can respond please.

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: This is your final question now, Deputy, not a speech.

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: Last question now, Deputy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: Okay, I'll have to allow to respond, and you'll be back in again this afternoon, Deputy Phelan, because Mr. Neary is with us for the day. Our next questioner is Senator Sean Barrett. Senator, you've ten minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: Maybe you need to rephrase that analogy there so Mr. Neary can come back to it. I'll allow a bit of time for that actually.

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: Previous page. Bottom paragraph.

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: There Senator Barrett, "Bank of Ireland remains comfortable-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: Read it again.