Results 4,601-4,620 of 16,492 for speaker:Ciarán Lynch

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

Ciarán Lynch: Okay, okay.

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

Ciarán Lynch: Mr. Patterson?

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

Ciarán Lynch: No, you're just allowed these. Drive on.

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

Ciarán Lynch: Thank you very much, Deputy. Deputy Murphy.

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

Ciarán Lynch: Hang on a minute now, Deputy.

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

Ciarán Lynch: This is your last question, because I have to move on.

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

Ciarán Lynch: Sorry, Deputy, I'm going to have push you. You're out of time, and you're out of questions. Make your comment and I'm moving on.

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

Ciarán Lynch: Sure I'll give it to you briefly there.

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

Ciarán Lynch: All right, thank you. Mr. Patterson, I just need to deal with one matter or two before I bring in Senator O'Keeffe, and that was: was there an internal guidance/manual on how to handle breaches of principles or other regulatory measures?

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

Ciarán Lynch: Okay, so who would be in possession of such a manual, or where would it be located?

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

Ciarán Lynch: Okay. I was just looking at your report for 2006, it's a summary of the annual report of Financial Regulator, and I see yourself there and the team, there's 13 of you in total. Looking at the skills composition of that team now, do you think that it was adequate for the, sort of, challenges that we were going to be facing into from 2006 onwards?

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

Ciarán Lynch: Okay. I just want to ... this is the team for the regulator's office, and have you just said that what was missing there was an expertise in financial regulation?

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

Ciarán Lynch: Amongst the non-executives.

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

Ciarán Lynch: Okay, all right, thank you. Senator O'Keeffe.

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

Ciarán Lynch: Thank you very much. I'm just going to wrap up with a couple of questions and then invite the two leads in, Mr. Patterson, and I just want to go back to some matters and that is that clear concerns were expressed by the regulator about the risk of asset growth at some banks before the onset of the crisis. Did the CBFSAI examined the possibility that this might be a systemic problem?

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

Ciarán Lynch: Sorry, the ... what I'm discussing in general is how the focus was applied by the Central Bank and the regulator on the underlying assets of the banks and consideration given to reviewing the quality of bank assets. So, in that regard, it would seem that clear concerns were expressed by the regulator about the risk of asset growth at some banks before the onset of the crisis.

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

Ciarán Lynch: I would be talking from 2002 onwards and that will probably bring me to a question later on as to when the crisis was actually embedded by your view but during this time, did the CBFSAI examine the possibility that this might be a systemic problem?

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

Ciarán Lynch: Okay, so coming onto the second part of that so, when do you think the crisis was actually embedded? Not when the crisis was visible and in full flow. It is like a house collapsing. Sometimes the crisis begins when the house is actually being built because it's not being constructed properly. When do you think the crisis was embedded?

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

Ciarán Lynch: That it was embedded by then or it was too late by then?

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

Ciarán Lynch: Okay, right, thank you. Now can I also ask you to outline your view of the nature of the relationship between the Central Bank-Financial Regulator and the banking institutions and in particular, discuss whether criticism of this relationship was expressly raised by employees of the Central Bank or Financial Regulator's office and the nature of that criticism, if there was such criticism?