Results 5,201-5,220 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Ciarán Lynch: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Ciarán Lynch: So were you, at that time, more focused upon the ... the quality of lending or on the asset base of the banks?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Ciarán Lynch: Okay, can I just in general ... just to get a feel ... maybe to get a feel for this before we return after the break. Now what I want to do is just ... describe, maybe if you could, for us the separate roles played by you, as the deputy governor of the bank ... of the Central Bank of Ireland and that which Mr. Patrick Neary, the director of the Financial Regulator, during this period?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Ciarán Lynch: If there were a structural map of the ... of the whole entire structure of the Central Bank, the regulator's office, the Governor and the board, was the regulator's office in a subordinated position to the Governor and the board?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Ciarán Lynch: Okay. So was the regulator, by your interpretation of that, Mr. Grimes, a complete and separate entity from the Governor and board of this ... of the overall authority?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Ciarán Lynch: Okay. You were acting Governor for a period of time ... and I just want to clear this up, because Mr. Neary is coming in on Thursday and the committee wants to get a proper idea as to what the structural map of the CBFSAI was, following the 2003 Act. When you were Governor ... or acting Governor, were ... was the regulator in any way accountable to you in your broad role as Governor of the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Ciarán Lynch: In what sense, at all ... in ... if ... if any sense whatsoever?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Ciarán Lynch: And you were chair of the board?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Ciarán Lynch: So being chair of the board-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Ciarán Lynch: And could the board at any time direct the office of the Financial Regulator in the terms of taking an action or to ask it to give account for its actions?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Ciarán Lynch: But could ... under its structure ... there's articles of association-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Ciarán Lynch: -----the legislation underpinning it.

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Ciarán Lynch: Could that have done those two things?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Ciarán Lynch: I'm trying to clarify between practice and legislation and rules. Whether a practice was taken or not, what I'm trying to find is the underpinning factor of this. Was the office of the regulator accountable to the board and could it have been directed by the board? Whether it was done in practice or not, we can discuss later.

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Ciarán Lynch: Okay, thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Ciarán Lynch: Okay. I'm now proposing that we would break until 11.30 a.m. In doing so, I just want to remind the witness that once he begins giving evidence that he should not confer with any person other than his legal team in relation to his evidence on matters that are being discussed before the committee today. With that in mind, I now suspend the meeting until 11.30 a.m., and remind the witness...

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Ciarán Lynch: Back in quorum, I'm going to bring the meeting back into public session. Is that agreed? And in doing so, I now invite Deputy John Paul Phelan. Deputy, you have ten minutes for questioning.

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Ciarán Lynch: Deputy Michael McGrath. Deputy, 20 ... ten minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Ciarán Lynch: Senator Michael D'Arcy. Senator, ten minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Ciarán Lynch: If you allow time, Deputy, or Senator to allow time. What is your question?