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Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: Okay, that's fair enough.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: The summary of that is: the guarantee had been put in place in September 2008, Governor. It was the biggest financial decision made, possibly in the history of the State to date at that time, and did the Central Bank have a role or did it see itself having a role in examining the performance of the guarantee and how it would roll out, having the political decision being made in September or...

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: Last question so, Senator, thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: Okay. You might try and get that figure for this afternoon.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: Deputy Michael McGrath.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: Okay, thank you. Deputy John Paul Phelan.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

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

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: Is that the same place now? I'll give you a bit of space here.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: I'm going to make an intervention here now. Like, there's work that the finance committee can go away and do. I'm allowing this in the context of the, kind of, picking up the pieces after the crisis and having the proper powers. I'm not going to go specific-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: -----and I'm not specifically going to go into this case, but the general processes and applications.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: I ... I'm not going to go into an investigation on this, sorry-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: I just need to clarify something. I'm just going to stop the clock a second, I'm not going to go into an investigation on this-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: Yes, but like, the issue here is are the procedures in place and are they identifying weaknesses in the system and are they identifying behaviours inside in financial institutions that identify the breaches taking place. The other issue is are there actions and follow-up actions that can be worked upon. But I'm not going to ... I'll take these things in general if we're going to be in the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: Can you clarify what you're talking about now there, Deputy?

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: -----4 November, what year?

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: Just deal with the NAMA side of it in terms of the systematic consequences of establishing it, and we'll deal with the bailout this afternoon, Professor Honohan.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: Sorry Deputy, you're out of time, I'm going to move on there and we'll deal ... we ... we've the Governor this afternoon as well, and we need to finish for lunch. Deputy Higgins.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: Don't go into French now, Professor Honohan. I'm trying my best to keep up with you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: A final question there Deputy, as Gaeilge or whatever you like. Last question.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: No we don't have translation facilities for that in the Oireachtas unfortunately.

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