Results 15,141-15,160 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Ciarán Lynch: I just want to deal with one question, Mr. Dukes, and Mr. Aynsley can come in on this as well if you wish after Mr. Dukes has answered. You spoke about the ten-year, sort of, wind-down approach to IBRC and the kind of cost-benefit analysis of that and so forth. Maybe if I could ask you to elaborate a bit further and maybe give some background behind the liquidation of IBRC as a device to...

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Ciarán Lynch: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Ciarán Lynch: Okay, so do you wish to add anything to that, Mr. Aynsley?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Ciarán Lynch: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Ciarán Lynch: No, that's fine, yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Ciarán Lynch: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Ciarán Lynch: Okay. And just to clarify, because the ... there was liquidation of IBRC with emergency legislation and one would envisage that that all didn't happen in one day, that there was preparation for that legislation over a period of time, were you, at any time, informed that there was going to be liquidation, and, as directors, if you had sight of that or with the roles that you had in the bank,...

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Ciarán Lynch: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Ciarán Lynch: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Ciarán Lynch: All right. With the business plan that you were proposing, with a ten-year wind-down, what would have actually happened with the promissory note?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Ciarán Lynch: For how long?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Ciarán Lynch: For how long?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Ciarán Lynch: For nine years, okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Ciarán Lynch: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Ciarán Lynch: It's just coming up to 20 past eight. I'm just proposing a ten-minute recess ... or suspension actually for a moment. In doing so, I'd just like to remind both Mr. Aynsley and Mr. Dukes that you're ... that you remain under oath. You can take a break as well from the committee room if you wish, and if you wish to discuss with any legal advisers or supports that you have here, you're...

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Ciarán Lynch: Can I just call the committee back into public session, if that's agreed? Okay, just where I was rounding off there before we broke, Mr. Dukes, just on the issue of eligible collateral and ELA ... that the ECB had exposure with regard to IBRC. Have you any quantification of that sum?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Ciarán Lynch: Okay. And how was that dealt with? How was it disposed of? What was the conclusion of that €40 billion?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Ciarán Lynch: Deputy Eoghan Murphy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Ciarán Lynch: Thank you. Next questioner is Deputy Joe Higgins. Deputy Higgins, ten minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Ciarán Lynch: If you could refrain from the sins of the past and maybe give us a better analogy that may not be so judgmental.