Results 2,501-2,520 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: Let the witness answer the question, Deputy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: You can ask a supplementary.

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: We will allow you time to respond, Mr. Farrell.

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: In the 2008 period you're referring to there?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: Thank you very much. If I can just deal with one matter before we move on there, it just comes back to my earlier question to Mr. Farrell about the coming together of the chief risk officers and you said that that was structured by the Irish banking authority.

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: But was there an authority that gave a direction or an instruction or an advice for you to have that mechanism engaged? Did it come from an official Department or-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: Who got the call? Was it you or a different official in the Irish Banking Federation?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: Okay, and was the call-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: Was the call and this request ... was it very, very prescriptive in terms of, forensically you need to look at this, or was it general?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: Okay, thank you. Sentaor Sean Barrett.

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: That's fair enough. Senator.

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: If that's guessing information, Mr. Farrell, I'd rather you didn't unless you have an informed that

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: That's subjective.

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: Okay is that completed? Okay, I'm just proposing that we will just take a very short comfort break for about three minutes and resume immediately afterwards. So just to suspend the session temporarily for a couple of minutes. Mr. Farrell, to remind you that you're still under oath and also that any engagement that is there ... is, you're still under direction and you can take any legal...

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: I propose we go back into public session immediately. We continue our engagement with Mr. Farrell, is that agreed? Agreed. Okay, I just want to deal with one question there Mr. Farrell and I'll come back to you in the wrap up there. It's in your witness statement and it's in relation of your witness statement which the IBF to prepare a note for issues raised and circulate to attendees....

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: Thank you very much. The next questioner is Deputy Kieran O'Donnell. Deputy, ten minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: I need you to wrap up now. I think the summary question is that because there's more cash being on deposit, does that facilitate further credit in the market?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: Okay. Thank you very much, Deputy. I'm going to just deal with a couple of questions myself, Mr. Farrell, and then I'll invite both Deputy Doherty and Deputy Phelan to wrap up. Mr. Farrell, you represented both banks operating domestically and international banks, and those operating in the Irish financial services centre. In your opinion, was Irish financial regulation policy geared...

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: Okay. And maybe just to test that proposition further, in earlier testimony, I think it was Mr. Roux from the Central Bank who was here, and, a line of questioning developed with him that the principles-based regulation, which is the formal term for what later became colloquially known as light-touch regulation, was an international rule; it wasn't just specific to Ireland. But the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: Okay, thank you very much. I'm going to move to wrapping things up, so if I can invite Deputy John Paul Phelan, just for three minutes, then Deputy Doherty for three minutes. Thank you.