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Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: Did the board feel that the amount provided for in bad debts in 2006 was correct or understated and if the notes in the accounts gave the reader enough detail about the potential risk involved with the commercial portfolio? You were addressing this earlier?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: This would be with regard to Deputy Doherty on IAS 39.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: Okay. Deputy Eoghan Murphy, ten minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: There is phone interference, Deputy, coming near you. It's somewhere from your proximity

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: It is not always the person that's speaking; it's just people in proximity so I'd ask them really to deal with their phones. Sorry there now for disturbing you Deputy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: He hasn't appeared.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: We were all getting -----

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: Yes, you can indeed. Mr. Gantly will be in here anyway.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: Last question now, Deputy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: Thank you very much, Deputy Murphy. Senator Sean Barrett. Senator, ten minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: Ask a question rather than make the judgment Senator.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: What about volume?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: There is sectoral and then volume, which would be different. The volume of that that you would be doing, would you see that as being related or separate?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: It was at a different dinner, Deputy ... just proposition, proposition, proposition.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: Thank you, Senator, you’re keeping me wide awake. Mr. Went.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: Can I give a summarisation of that to maybe try to assist you, Senator, in that we ... all these institutions, with maybe the exception of one, have been about since maybe God was in his short pants and they operated a business model for decades, if not centuries. And within two decades most of them, if not all of them, were wiped out. Would that be a fair reflection? What happened? What...

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: Senator.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: Be very careful now.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: Thank you very much, Senator.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: I’m going to move promptly on. Deputy Higgins. Ten minutes, Deputy.

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