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Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: But we're not in a normal market here now one month after the State has actually guaranteed financial institutions.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: Was there any discussion in your institution with regard to the Nationwide or with regard to Anglo of how safe or unsound or how wise or unwise it would be for the EBS to be buying bonds from any of these two institutions?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: At any time.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: And just on the broader level of those two institutions, I just want to know, at board level was there concern with any transactions that your institution might engage with with those two institutions?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: At that time?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: Okay. Thank you. Senator Susan O'Keeffe.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: I need you to ask the question so that he gets time to respond.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: Senator D'Arcy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: It's page 45 in the core booklet.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: It's on the monitor there now, Senator, as well, just to assist you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: Last question now, Senator.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: Thank you very much. Deputy John Paul Phelan.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: There's some phone interference coming by you there, Senator. Obviously-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: I appreciate that, but sometimes proximity can cause it so, if it is, I'd ask the member to deal with it, please; not to have it interfering with your questioning.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: Last question, Deputy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: Okay, thank you very much. I'm moving to wrap things up. First up is Senator MacSharry. Senator.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: Okay, thank you. Deputy Murphy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: Final question, Deputy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: It's Galway races week, lads. I'm sorry about that; that's where that came from. Time is up. I don't know where that came from, Deputy. I'm going to wrap things up. Something that struck me this morning when you were talking, Mr. Merriman, and as you go along the journey, you sometimes forget the obvious, and that the EBS was set up to assist teachers to buy homes and that's the start of...

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: At any stage during that journey, did you say to yourself, or was it discussed in the bank, the purpose of the establishment to which we serve, which was to allow a particular, sort of, income group ... and they become the classical, sort of, teacher and guard, in terms of looking at affordability-----

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