Results 3,901-3,920 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: I'm not asking for the typist, I'm asking for the person who actually authored the ... kind of, the intellectual capital that's inside in this paper.

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: What team?

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: What team?

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: Was it a domestic standing group, the Department of Finance?

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: This is the Johnny Logan group is it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: The Johnny Logan group - who is this ... what teams ... we have-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: This is it, is it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: Okay, who was the audience for this document? Who presented it and who was it presented to?

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: Right, thank you. Okay, I just want to move on to a couple of questions there, so if I can get the first one up there, which is this. I'd like ... it just comes back to your own witness statement on page 1 of it, Mr. Beausang, and to ask you as to what extent was Irish financial regulation policy geared towards development of the IFSC? And do you believe this, in any way, compromised the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: Okay. There has been some discussion with other witnesses before this committee that because of the development of the IFSC, that ... and the particular type of financial product that they brought with them, and you mentioned then the sectoral concentration limits as being one of them, was there a, kind of ... I'm coming back to Senator D'Arcy's question earlier, that we had the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: I'm looking for your view. The UK can have their own investigation.

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: And that's what you're seeing in the UK, but we're having an Irish inquiry here and I want to get Irish testimony, so can I ask you for your view?

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: I'll just ... I'll summarise the question once more, like, the ... in what one considered proposition was, to invite businesses into the Irish financial services centre on the quays, obviously a retail window had to be put out to get them into the country, and that the ... one of the considerations, it's even touched upon in the Honohan report, is that that had an impact upon the broader...

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: Okay. I want to move on there to another issue, and that is to deal with the financial stability issue and the scoping paper citing, this comes back to Department of Finance, Vol. 2, page 113 to 120. The specific page I am talking about is going to come up on screen now. It talks about, if you look at the second paragraph there going down on the page. It says this memo sets out ... the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: And how informed were you of systemic risk at that time?

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: Okay. In terms of weighing these, sort of, many, many difficulties and problems that were obviously being encountered by people who were party to trying to come up with some solution or strategy to deal with this, the issue of systemic risk, how heavily would that weigh against the other difficulties that you would have had such as liquidity and so on and so forth?

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: Okay. So in that regard, if I can maybe move on to the next question. In section 5.9 of your statement you state that your area of the Department of Finance had no role or mandate in assessing the efficiency of financial supervision on overseeing systemic risk. So who then was responsible for overseeing this important area?

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: All right. If I can go then to page 3 of your statement, it's the very bottom of the page 5.9 and you say: Under the legislation or in terms of the accountability framework, my area had no role or mandate in assessing the efficacy of financial supervision or in overseeing systemic stability. We were, however, cognisant of a broad range of factors which appeared to provide substantial...

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Ciarán Lynch: But what I ... what I'm maybe trying to tease out with you, Mr. Beausang is ... and I'll repeat the question again, is that the biggest issue in the ... in the discussion approaching the eve of the guarantee was the risk of systemic-----