Results 4,461-4,480 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Ciarán Lynch: Okay, but that's Patrick Honohan's view. What's your view?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Ciarán Lynch: Now you-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Ciarán Lynch: No, no.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Ciarán Lynch: Were we embedded in a crisis already by January-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Ciarán Lynch: Or any-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Ciarán Lynch: Okay. That's your view, all right. I just want to return to a couple of issues there, just following on from Senator Barrett's questioning. When you ... when he was asking you about the McDowell report and, sure, you didn't have any input into that, and that may have been appropriate.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Ciarán Lynch: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Ciarán Lynch: And that matters. My next question to you, Mr. O'Reilly, is that we know that a ... that from the McDowell report ... and there was an argument for a different model and that the Central Bank, Government, and Department of Finance were against recommendations that were in the McDowell report. The model, however, was developed and it was put in place and you headed it up. So can we ask you...

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Ciarán Lynch: Okay and what way would you have started it from?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Ciarán Lynch: I just want to return to return to-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Ciarán Lynch: Yes, sure, yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Ciarán Lynch: Just on another matter - and it goes back to an earlier question from Senator Barrett as well - and that is the implementation on compliance which was first contemplated in 2004 but it took until 2006 to 2007 to be completed. Why was it ... why did it take so long to actually implement that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Ciarán Lynch: Okay thank you. Senator D'Arcy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Ciarán Lynch: It's on the screen in front of you there, Mr. O'Reilly, if you wish to look at it.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Ciarán Lynch: There is a phone in proximity there, can I just ask members to put their phones on safe mode if they are not actually in possession themselves, because it does travel on.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Ciarán Lynch: Give Mr. O'Reilly time to respond now Senator.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Ciarán Lynch: It is about three minutes now Senator.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Ciarán Lynch: This is a letter, is it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Ciarán Lynch: Thank you very much, Senator. Just, coming back to just an earlier engagement there that Senator D'Arcy had with you, Mr. O'Reilly, in regard to the memorandum of understanding between the Central Bank and the Financial Regulator's office. Could you maybe explain to us, was there sufficient clarity on what should be dealt with by the regulator and was there an expectation that the Governor...

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Ciarán Lynch: And at any time did the Governor come to you and say, in his responsibility, or his duty of care, which was the stability ... the financial stability of the State ... did he at any time come to you and says that we have stability concerns here and we would like to maybe examine the possibility of some regulatory matters that might assist or deal with the stability of the banks?