Results 4,881-4,900 of 16,492 for speaker:Ciarán Lynch
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Ciarán Lynch: -----so that its now clouding the Official secrecy's Act. People can go and read it-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Ciarán Lynch: All right. So in that regard, was there any expectation that the Governor would invoke his rights under the MOU and intervene with the Financial Regulator and did that ever happen?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Ciarán Lynch: The Roman ... the Roman numerical iii, there for example-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Ciarán Lynch: -----the Central Bank would have had responsibility for the macro-prudential management of the country, stability and so forth. I ... would I be correct in saying and I'd say that this happened but just as an example, that the Governor of the Central Bank may have a macro concern and would then talk to the regulator that maybe some regulatory actions might deal with these ... might-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Ciarán Lynch: Okay. Did that every happen?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Ciarán Lynch: Okay. Should it have had happened?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Ciarán Lynch: In earlier questions there with Senator D'Arcy, you were discussing the sanctions that were available to you. Senator D'Arcy mentioned some sanctions that were available or that were in your power. Could you maybe give us an example as to what you understood the sanctions were?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Ciarán Lynch: These that would have been the sanctions that would have been available to you to go into banks, to not give kind of, moral suasion or to say, ''Look, I'm a bit worried about this''. These are specific actions that you could have taken with banks to actually temperate or moderate particular actions that they were engaged in.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Ciarán Lynch: Could you give us an example of-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Ciarán Lynch: -----some of those powers that you would have had?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Ciarán Lynch: And were they invoked?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Ciarán Lynch: In terms of the communications that were taking place between yourself and the Governor, his office, his board, your office, your board and all the rest, was the issues of sanctions and how sanctions would be discussed, and at any time did the Governor or the Central Bank and Financial Services Authority of Ireland influence your approach as to how you would invasively go in and direct banks...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Ciarán Lynch: Were they saying "Go in" or "Don't go in" or did they not just comment upon it at all?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Ciarán Lynch: I'm just trying to get an image in my head on this in that you either have something tightly on a leash or you're letting the leash off. What were they doing? Were they holding you back or were they saying "Get in there"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Ciarán Lynch: We had a bit of imagery yesterday afternoon to call the seventh floor, where it seemed all the big decision-makers in ... over in Dame Street were residing. Were you on the seventh floor?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Ciarán Lynch: And was the Governor on the seventh floor?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Ciarán Lynch: And would you meet the Governor every day or would you meet him once a month?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Ciarán Lynch: You could be having a cup of coffee?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Ciarán Lynch: And would that be the daily sort of level of engagement that you would have had?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Ciarán Lynch: No but informally, I mean would you be meeting him in the corridor, would you be most likely see him once or twice a week?