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

Ciarán Lynch: Thank you very much, Deputy. If I can maybe just ask you, Mr. Neary, if you could outline your role and the role of the financial regulation team in the CSE and what review and actions were taken following these?

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

Ciarán Lynch: The CSE.

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

Ciarán Lynch: Yes.

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

Ciarán Lynch: And in recalling that, maybe you could share with us this afternoon, in hindsight, how effective was this exercise in light of the experience of the crisis itself?

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

Ciarán Lynch: This particular part of your response there, Mr. Neary, that I note in that the crisis simulation exercises that you were doing had no semblance or similarity to what actually happened afterwards. So, did these stimulations serve any purpose?

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

Ciarán Lynch: Okay, thank you. Senator MacSharry.

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

Ciarán Lynch: Dermot Gleeson, when he was inside here has some questions about those minutes as well so-----

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

Ciarán Lynch: You have one more after this------

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

Ciarán Lynch: Senator, one final question-----

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

Ciarán Lynch: Ask it, please.

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

Ciarán Lynch: Question made, Senator. Mr. Neary.

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

Ciarán Lynch: You're interrupting the man ... he's answering the question. Continue, please.

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

Ciarán Lynch: The man is answering the question. Will you let him continue, please, and we'll get him to conclude-----

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

Ciarán Lynch: Just finish the story please, Mr. Neary ... please, without interruption.

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

Ciarán Lynch: Thank you.

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

Ciarán Lynch: I'd maybe draw a line under it there because you're moving onto speculation rather than informed opinion. Deputy McGrath.

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

Ciarán Lynch: The legal advice I have is that you can't do that.

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

Ciarán Lynch: There are upcoming trials that may be related to the ruling and evidence presented at that trial.

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

Ciarán Lynch: Please mind now, Mr. Neary, and I will allow the question to continue but, with regard to the relevant section and specifics, to be maybe a bit more general than specific in some of your commentary, okay?

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

Ciarán Lynch: Thank you very much, Deputy. So it's now just gone 4.30 p.m. so I propose that we will break until 4.45 p.m. and, in doing so, just to remind the witness that once he has commenced giving evidence, he should not confer with any person other than his legal team in relation to the evidence and matters that are being discussed before the committee today, and with that in mind, I suspend the...

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