Results 4,941-4,960 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: Okay. The matters we discussed this morning, were any of those ever fed into the Department of Finance - the build-up in the banking sector becoming four times the size of the Irish economy, and all ... and the escalating issues, and then the decisions that you made in 2006 and 2007 in regard to the property sector and the commercial property sector?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: Okay. Maybe you ... if I can maybe describe what the understanding of the domestic standing group was, and maybe you could maybe give us some clarity as to what the role of the domestic standing group; who was on it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: Okay, so these were the men in black that were to prepare us for a calamitous situation if it were ever to arrive. Was that the job?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: Okay. Would I be correct in saying that these ... this group was put together with particular expertise, with a particular focus to give early sight, and early warning, and early preparation for any imminent crisis that might be coming down the lines financially?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: And you were a member of that group, were you?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: It was the Governor was a ... was the Governor a member of that group?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: Should you have been a member of it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: But the ... correct me if I'm wrong now, but the understanding of the domestic standing ... or the understanding of theraison d'être of the domestic standing group was to be the sort of No. 1 line of defence against an economic meltdown or crisis in this country, and you're saying this morning that neither the Financial Regulator's office, or the board, or the Governor of the Central...

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: And did they engage with you in your role as regulator?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: Okay, so you wouldn't be familiar with the DSG. In that regard-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: Was there any deficiencies, to your mind, with your familiarity with the domestic standing group that may have contributed to the failure of it in identifying early signs of the crisis?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: Mr. Neary, this country faced an economic financial meltdown, probably the biggest ... well, no question it may be the biggest crisis since the foundation of the State. This group had a role in operating as an early warning signal and as a strategy group to respond to any crisis. Did they do their job?

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: Senator Susan O'Keeffe.

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: You can certainly talk about this question.

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: Yes, sure.

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: I understand the main question you're pursuing, Senator, and I'll give you some time on that. So go on.

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: Senator, Senator, I'll give you time-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: -----because I want to come in here myself now.

Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)

Ciarán Lynch: Senator, I'll bring you back in because I need to reframe this for Mr. Neary so it's very, very clear. And to remind you you're under oath, you're here for questioning and that this inquiry has two things to do: one is to find out what went wrong, and secondly is to prevent it from happening again. What Senator O'Keeffe is asking you is that yes, there were a lot of actions taken by the ......