Results 5,641-5,660 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Ciarán Lynch: Okay, thank you. Deputy O'Donnell.

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Ciarán Lynch: Just give a bit of space there now.

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Ciarán Lynch: Quickly.

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Ciarán Lynch: Thank you, Deputy. Thank you, Mr. Hurley. Deputy Joe Higgins, you've ten minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Ciarán Lynch: Yes, Deputy, yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Ciarán Lynch: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Ciarán Lynch: He's been refer-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Ciarán Lynch: Right, thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Ciarán Lynch: Question now, Deputy, not a statement.

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Ciarán Lynch: Okay, thank you very much. I'm going to move towards wrapping items up there, Mr. Hurley. I just want clarification on one piece of documentation that we have and I just ... it may be familiar to you ... it's a note from a Department of Finance presentation and I'm just trying to establish the date of when that was actually provided. There's a particular line on it; it's the second last...

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Ciarán Lynch: Thank you. So it was in around March you reckon, I'm not looking for specifics?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Ciarán Lynch: It was February. Thank you very much okay. Just on ... in an earlier engagement today you spoke about being in a meeting with the NTMA in close proximity to the evening of the guarantee, a couple of days before. When was that meeting?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Ciarán Lynch: Can you recall who the personalities from the NTMA were that were present?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Ciarán Lynch: Thank you very much. And the general discourse at that meeting, was it related to the night of the guarantee? Was it saying that-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Ciarán Lynch: And at that meeting was there any sort of discussion that we may need to actionise some of these proposals and that maybe one of those actions could be the roll-out of a guarantee, regardless of what shape the guarantee would eventually have?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Ciarán Lynch: Okay, so you were-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Ciarán Lynch: Did the NTMA at that time express any view as to what the implications of a guarantee might be?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Ciarán Lynch: That brings me to my next question because one of the functions of the NTMA is to issue bonds on behalf of the Irish State and obviously bonds at that time had a particular rating to them. Did they give any ... or offer any opinion, by your recollection, as to how it might affect Ireland's rating if a blanket guarantee, or any type of guarantee, was put in place?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Ciarán Lynch: Okay, I just want to wrap up maybe, and to just have it on the record this evening. The rules governing ELA require a bank to have liquidity difficulties not solvency difficulties?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Ciarán Lynch: Okay. So I ... when you were seeking liquidity for a ... financial institutions was it your view that there were not solvency difficulties there and that they met the ELA criteria?