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Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: You can be allowed comment with a question; I can, but a comment, no.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Sorry, I just want to get my head around this just once more, and ... we have to write a report at the end of this process-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: -----Ms O'Dea, and the last thing I'd want to be doing is asking this committee to write back to get further information or clarification, and to provide people with the greatest opportunity for them to decide here. I just want to get your position on this 100% mortgage. To use an analogy, it's like the Road Safety Authority telling people to put on their seat belts and people should be...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Deputy Murphy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Thank you very much. Senator MacSharry.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Give her time to respond. Ms O'Dea.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Senator-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: If you can ask the witness, was there ever ... or care to confirm it and then ask her why?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Let the witness respond as well, now.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: You made it very, very clear, Senator, I need to get a response.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Senator, wrap up there because I've a question to ask as well.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: No ... and I would expect you to ask an assigned question in that time as well, so I'm going to take it now. Can I ask you, Ms O'Dea, the IMF mission in 2009 referred to the lack of a resolution regime. Can you explain the Financial Regulator's views on the need for a resolution regime in 2009?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Okay, thank you. Next up is Senator Barrett. Senator Barrett, you have six minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Time to wrap up there now, Senator.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Okay, this is the last question with regard to contrarians.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: I'll have to push you for time.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Deputy, I will move towards a wrap-up. Just to come back to some earlier issues, just to tidy it up. Just because or as you've said yourself, Ms O'Dea, no enforcement sanctions were taken. Does that mean that no other action was taken and if other action was taken, could you tell the committee what that action actually was or were?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: It would have been 2002 to 2009, right through the whole period.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Is that consumer or prudential?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: And the 2005 to 2009 period?

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