Results 15,781-15,800 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Are you able to answer the question?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Let the witness determine his own credit-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Deputy O'Donnell, I will let you back in again in the wrap-up.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: All right. I will bring you back in at the end, Deputy, and to wrap up, Mr. Walsh.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: I am sorry now, Deputy. I will bring you back in the wrap-up again.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: You can come back to it. It doesn't matter how simple the question is. The witness must respond to the earlier question.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Mr. Walsh, and without interruption, and then I am moving on. Mr. Walsh?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: We will come back to it in the wrap-up, Deputy. I'm going to be more tightly disciplined with time today, now. I just want to deal with a couple of matters before I bring in the ... the leads have completed but before I move on to the other questioners, could one or both of you, Mr. Walsh and Mr. O'Connor, explain as to why the Government announced on December '08 that it intended to...

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Could either of you explain as to why the Government announced in December '08 that it intended to inject €1.5 billion into Anglo?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Okay. So there was no analysis or services, to your knowledge, that PwC gave that informed the Government to come out with that announcement.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Okay. As we know, that never transpired that the ... Anglo was nationalised practically within a month of that announcement actually happening so there wasn't any injectment of cash; it was a nationalisation "prospacy". But you're unaware as to what informed the Government making that announcement. Is that your testimony?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Okay. All right, fair enough. I just want to deal with some matters regarding to loan selection samples, the decision criteria and concentration risk for a moment before I bring in the next witness. The two relevant documents to this, you would be familiar with. There's your own statement, Mr. O'Connor, and there's the Project Atlas 2, Vol. 1 - the working draft of that. And in that, it...

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: I said, in your management discussions, what was the background and the rationale for the major lending positions and the level of loan provisions in this regard?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Okay. Was it evidential based or was it, kind of, "Well, I know you and you're grand, I will give you a few bob", or was it that "We have a long-standing history with this guy and he always brings in the bacon?" What was the rationale underpinning it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: In that regard, was there a view that loan loss provisions were not sufficient for relevant loans?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Okay. Could you give us an example of that robustness?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: And were you challenging that position with the bank? And could you, maybe, give us an example of that discourse as to how that went back and forth?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Okay. When NAMA came before the committee, they gave an example of the lending model that was in place, and I'm just putting this out to see would ... did it kind ... was this related to the context of those conversations. Whereas where Mr. Daly says - he gives an example of the loan modelling - a developer would come in, they would borrow to develop a particular site. The equity in that...