Results 5,101-5,120 of 16,492 for speaker:Ciarán Lynch

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

Ciarán Lynch: Okay, thank you very much. Mr. Neary, I just need to deal with a procedural issue and this is entirely at your discretion. By my calculation there's maybe about 20 minutes, 30 minutes maximum left in today's hearing. If you wish to choose to take a break to end ... before we complete proceedings, that's entirely your call or if you choose just to continue the line of questioning for...

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

Ciarán Lynch: Okay. Senator Barrett.

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

Ciarán Lynch: If the Chairman could clarify, it was contrarians within ... inside your own institution.

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

Ciarán Lynch: Back to you so, Senator. You're all right.

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

Ciarán Lynch: Join the club.

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

Ciarán Lynch: A question, Senator.

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

Ciarán Lynch: Thank you, Senator Barrett. And Mr. Neary, I just want to move towards a wrap-up. I've just got a couple of questions for you and then I'll invite the both leads in and if there is anything further you would like to add by means of closing comments today, I'll certainly welcome them from you. Just to deal with one matter and maybe if you could answer this for me, please, is: who did you...

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

Ciarán Lynch: The authority?

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

Ciarán Lynch: Could you explain what you mean by "the authority" so I can be specifically clear on that?

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: And was the authority then ... who, in turn, was the authority accountable to?

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

Ciarán Lynch: Do you mean the Financial Regulatory Authority now or are we talking to the overall board?

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

Ciarán Lynch: Right, you see, it's not now that it's like the Holy Trinity over there, it's a mystery that we have to understand any theologists, but I am trying to get a feel as to what is actually over there. Is it the board ... like it's the CBFSAI or whatever it was, there's the board above that.

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

Ciarán Lynch: Is that the board you're talking about when you're talking about the authority?

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

Ciarán Lynch: Okay. I just want to wrap up on two themes that need to just be kind of sufficiently covered. Why, in your opinion, did the Financial Regulator, and not the Central Bank, as guardian of ... as guardians of financial stability, host the financial round-table meetings with the banks?

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

Ciarán Lynch: Yes. Would they not have been more appropriate in that regard?

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

Ciarán Lynch: Okay, and can I maybe just ask you, as to the main purpose of these financial round-table meetings, were they to alert stability issues-----

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

Ciarán Lynch: -----or was the main purpose to affect moral suasion, to limit lending growth, and relaxation of lending policies?

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

Ciarán Lynch: Okay, and did you feel that the intended message of the banks was brought home?

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

Ciarán Lynch: Okay. Finally, just on that matter, do you feel that the banks were sufficiently aware of the risks of their business policies, their business models and their business products?