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Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: And in this morning's testimony and other testimonies we heard, that sort of transitional period between 2006 and 2008 where, in 2006, a lot of the people that have come before this inquiry have said that there was still an upbeat kind of forward looking, you know, positive view of things, that if things were to slow down, they wouldn't crash, that there'd be a soft landing and all the rest...

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Thank you very much. Listen, I am going to propose that we actually take a break now. We will return at 4.45 p.m. or so, no later than 4.50 p.m. so we'll be finished by 6 o'clock. Just a note for Members as well, we just have one item to deal with in private session before we conclude today. So if I can just propose that we take a break. The witnesses are reminded once again before...

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Mr. Cullen, Mr. Fitzpatrick, are you okay? All right, thank you. Okay so, I'm going to ... I now propose that we go back into public session, is that agreed? And our next member to question is Senator Michael D'Arcy. Senator, you've ten minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Final question now.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: I'll afford you a bit of time to read it out, but I need you to get on to the question then afterwards, okay?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Deputy. Can we not make statements? Ask questions.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: I know, but you are out of time so make it very quick.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Deputy Joe Higgins.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Just over two minutes now, Deputy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Just over two minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Thank you very much, Deputy Higgins. Deputy Kieran O'Donnell. Deputy, ten minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Without interruption there Deputy, please.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Without interruption. Mr. Fitzpatrick, you have the floor.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Ignore the surely, just ask the question.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Last question now.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Okay. Deputy John Paul Phelan. Deputy, you have ten minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Thank you very much, Deputy Phelan. Can I maybe just summarise where we are at the moment before I bring in Deputy Doherty? Mr. Fitzgerald, earlier in your evidence you, just to confirm again, you're stating that Deloitte were aware of the risks in Ulster Bank, i.e. concentration levels and such, yes?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Okay. And that these risks were then detailed in the accounts.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Okay. That being the case, how did Ulster Bank not see the risks?

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