Results 14,981-15,000 of 16,492 for speaker:Ciarán Lynch

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

Ciarán Lynch: They went up substantially, did they?

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

Ciarán Lynch: How much?

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

Ciarán Lynch: 10%, 20%? I'm not looking at the sum.

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

Ciarán Lynch: On 100% mortgages where did Genworth go?

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

Ciarán Lynch: Okay, I won't pin you to a figure but you will say substantially, yes?

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

Ciarán Lynch: Okay.

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

Ciarán Lynch: Indeed.

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

Ciarán Lynch: And given that Genworth were the tendered or the option of insurer that you actually had, they were the only company-----

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

Ciarán Lynch: -----you were dealing with. They were your partner in this regard.

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

Ciarán Lynch: Did Genworth at any time express concerns with what was coming in through Haven and other brokers in regard to the overall institution?

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

Ciarán Lynch: Okay, all right. And then I'll just go to the third column, which is "Increased Return (Introduce an Unsecured Deposit Bridging Loan) ... We currently offer a deposit loan through GE Money." What is GE Money, by the way?

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

Ciarán Lynch: Okay. "We are proposing offering deposit bridging product through EBS, a higher rate to increase return on capital. There are system implications and therefore we expect delivery in Q2 in 2006." That's the recommended option. Was that taken?

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

Ciarán Lynch: Okay. All right. Can I ask you, Ms Clarke, just on the broader scheme of how the model was developing during then, did the board understand the risks attached to such lending and what could happen should it go wrong?

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

Ciarán Lynch: Yes, in the regard, EBS increased commercial and development lending significantly in the period from 2003 onwards. Did the board understand the risks attached to such lending and what could happen should it go wrong?

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

Ciarán Lynch: Okay.

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

Ciarán Lynch: Sure.

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

Ciarán Lynch: All right, okay.

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

Ciarán Lynch: Were you familiar with any concerns at board level?

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

Ciarán Lynch: At what time? Was there a concern you were aware of, if any?

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

Ciarán Lynch: You were familiar with board concerns at that time.