Results 4,781-4,800 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Okay. In that regard, but if we were to take the context of the contrarian, if you take the Nyberg report or the Honohan report, that they talk about the herd instincts, so somebody who was operating outside the herd would have been a contrarian even though they might have been talking the world of sense. In that regard, can I put the question to you that was there contrarian opinions in...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Okay, that's fabulous colour but I'm going to come back to the question again, okay. And what I want to ask you, basically, I want to get a position on how contrarian positions in the Central Bank were being managed.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Well, John Hurley ... well, tell us more about how they weren't received. So, how were they managed?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: This is the final question so, for the moment. Governor Hurley, when he was before this committee, stated: I was not aware of contrarian views within the Central Bank, which differed in substance from the Bank's overall assessment[s]. Views, which set out a[s] different risk assessment[s], were not made known to me or to the Board in my presence. Would you care to comment upon that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: You said that was the financial stability report for 2007?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: All right. Deputy Murphy, 25 minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: No, but you can tell us at what level it was made. Was it made up further-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: I need you wrap up and I'll bring in-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Sorry, I'm not even going to go there. I'm just going to wrap that up. Senator MacSharry, please.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Mr. O'Connell, you were in the Central Bank, I think, in 1970 until 2010. By my recollection that's 40 years. Now you probably have a better understanding than any of us inside in this room as to what the obligations of section 33AK actually are. If you want to waive them, inform us that you want to do so and I'll try and guide you but I would be advising you in that regard, okay?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: I ... I think we were observing. I'd be ... just be mindful of leading witnesses, but-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Yes ... yes, okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: I ... just, stop the clock a second there.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: I ... no, no, I'm gonna speak 'cause I'm stopping the clock to speak. Now, just be mindful that when we get to writing a report here, if evidence provided inside in this room is not sought in a legal fashion, it doesn't matter what line of questioning a member takes, it cannot be used in the final report. So, with that regard I'd ask you to continue please, Senator MacSharry.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Yes, okay. Well I'm just ... I-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Okay, and I'm just being mindful to members ... that they be mindful of their questioning because if they do step outside the legal position, and this applies to all members, it creates difficulties in terms of a final report. So, Senator, back to yourself.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: I need ... I need to allow Mr. O'Connell to respond now, Senator.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Sorry. Hold on a second now. I ... I don't want to put this committee ... it'll be the first time that I'll actually have put this committee into recess of private session when we're in public hearings, but a member cannot-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: No. I ... I ... please, because I don't want to move to private session.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: We will, and the clock is stopped, and that's why I'm the Chair.