Results 15,801-15,820 of 16,492 for speaker:Ciarán Lynch

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

Ciarán Lynch: -----there was just this equity. Is that the type of discussions that you had in regard to ... well, how the loans were securitised and supported? Was it in that area or somewhere else?

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: Okay. And what would happen? Maybe that's something to the conclusion that we might come to in regard to how loans are dealt with in the future. And so just continuing that line of questioning, did PwC suggest that the greater loan book granularity should be pursued to view another 50 loans or was this at the suggestion of the ... of IFSRA or another party, given the outcome of the top 20...

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

Ciarán Lynch: The regulator said that you-----

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

Ciarán Lynch: -----needed to-----

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

Ciarán Lynch: -----drill down further-----

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

Ciarán Lynch: -----in that regard. And was that done?

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

Ciarán Lynch: And what ... did it reflect something different or something new or much the same?

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

Ciarán Lynch: Very consistent.

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

Ciarán Lynch: Okay. Moving on then to ... I just want to deal with the matter of ... were you aware ... and this comes back to your own statement again, Mr. O'Connor. Were you aware of summary information from PwC reports was likely to be discussed by Government officials from the Central Bank, the Financial Regulator, the Department of Finance, etc., at meetings taking place on 29 September 2008?

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

Ciarán Lynch: Was that a surprise to you?

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

Ciarán Lynch: Okay. When ... in the information that you had been providing, did you know that it might be used in that regard or had you any indication that these discussions would, kind of, find themselves falling into this sort of environment?

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

Ciarán Lynch: If you-----

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

Ciarán Lynch: Yes. If you knew that information and data and analysis that you were providing to Government and other services had that stop on its journey - and I do want to take on board the speed and all the rest of it - would that have informed how you would have presented your information or would you have considered that you would have, kind of, maybe reshaped it or focused on other areas if you...

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

Ciarán Lynch: Okay. Other than the option of nationalisation, which we discover ... discussed earlier, was ... what were then other strategic options available to the Government before 30 September 2008?

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

Ciarán Lynch: Okay. All right. And just on ... coming back to your own statement there, Mr. Walsh, in which you say: "Following the granting of the Government Guarantee on 30 September 2008, our preliminary work on collateral that could be provided to the Central Bank in support of ELA was not pursued." In that regard, could you tell the committee why were PwC requested to draw up a list of loans that...

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

Ciarán Lynch: Which bank was that?

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

Ciarán Lynch: Which bank was that?

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

Ciarán Lynch: Anglo, okay, yes.

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

Ciarán Lynch: Okay. And in your discussions with the Financial Regulator, did you ever express material concerns about additional liquidity and quality of the supporting collateral?