Results 5,261-5,280 of 16,492 for speaker:Ciarán Lynch

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

Ciarán Lynch: I just want to return to one issue there and that's, Mr. Grimes, to ask you can you comment upon or advise on regulator checks on structured large and medium exposed facilities by Irish financial institutions in the years leading up to 2008?

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

Ciarán Lynch: There is no reference; it's just in general to the documentation we have received. What I would be asking you to do is to comment upon or advise on regulator checks on structured large and medium exposure facilities by Irish financial institutions in the years leading up to 2008. Have you any comment to offer in that regard?

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

Ciarán Lynch: Okay. And that's with regard to restructure of large and medium facilities, yes?

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

Ciarán Lynch: Okay, thank you. I am going to move towards wrapping matters up. I just want to deal with just one item and that's going back to the minutes that we were ... A number of matters I will take them in the wrap-up after I bring in the leads. On that minute that we discussed earlier and following the line of questioning from Deputy McGrath and from Senator MacSharry as well, there would be one...

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

Ciarán Lynch: Thank you. Deputy Higgins, five minutes.

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

Ciarán Lynch: Thank you. Deputy O'Donnell.

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

Ciarán Lynch: Deputy, move on.

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

Ciarán Lynch: The last question.

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

Ciarán Lynch: Thank you very much. I just want to tidy up some very quick matters and then I'm going to bring matters to a conclusion, Mr. Grimes. You said that you were in, on the night of the guarantee, you were in an ante-room with Mr. McDonagh from the NTMA for a period of time, yes? Did you discuss what the business of the evening's ... or course of events were going to be with Mr. McDonagh at any...

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

Ciarán Lynch: What time of the evening was that approximately?

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

Ciarán Lynch: Okay, thank you. Just going back to Senator O'Keeffe's question earlier, where there was a meeting in the first weekend in September to discuss one financial institution, which was in the process of being downgraded. And then, following on from Mr. Boucher's testimony in regard to that, were you at that meeting or not?

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

Ciarán Lynch: Mr. Boucher, you refer to here.

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

Ciarán Lynch: I think it was the first week ... its the first weekend in September.

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

Ciarán Lynch: Okay. Were you the Governor at that time?

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

Ciarán Lynch: And, so what ... this was an emergency meeting at that weekend to discuss one institution which had received a significant downgrading and it's your recollection to the committee today that you weren't aware of that and that you had no hand, part, act or role in that meeting.

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

Ciarán Lynch: And were you aware of even the meeting itself? Were you aware of it, as Governor?

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

Ciarán Lynch: Okay. Okay. Just finally, I just want you to comment upon the adequacy of loan loss provisions and capital adequacy positions of the Irish financial institutions up to 2008. What we see here is the annual report of the, its going to come up on the screens any second now, its the ... it's the Governor's foreword. And down in the corner of the page it says, the financial crisis was of...

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

Ciarán Lynch: Yes, sorry. 2008. It's the Governor's foreword, of the Governor's ... its the annual report in 2007, and it's ... it goes on for a number of pages. It's signed by John Hurley, Governor. But can I ask you what, what role were you doing that would've assisted the Governor and his report to have made such a statement?

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

Ciarán Lynch: It's the annual report for 2007.

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

Ciarán Lynch: Yes.