Results 6,321-6,340 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Ciarán Lynch: Thank you very much. Just before we go to the break, if I can just go into an area with either Mr. Torpey or Mr. Gallagher. You might express me which one of you is probably more relative to it. In the engagement with mortgage brokers, which was something that Ulster Bank done, alone with other banks, during the period, was there a part of the growth strategy that was outlined by Deputy...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Ciarán Lynch: Ulster Bank did.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Ciarán Lynch: And was there a risk management process in place for mortgage processed by brokers that would be coming into Ulster Bank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Ciarán Lynch: So you ... so you would have run a second sight on broker proposals that would have come in so ... and they would have more or less ... if I'm hearing you correctly there, Mr. Torpey, it would have been like the application was being made from scratch in terms of examining the supporting information. It wouldn't be taken that the broker's package was not to be looked at, that everything was...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Ciarán Lynch: Just a final question on that and then we'll go for a break. Can you account for the percentage of your distressed mortgage book that relates to mortgage broker business?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Ciarán Lynch: Have you looked at that as an issue?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Ciarán Lynch: That would be assistful if you could, Mr. Torpey. We'd appreciate that.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Ciarán Lynch: Okay, I'm proposing that we now take a break and that we will break until 11 ... or, sorry, 12.25 p.m., if that's agreeable to members. In the meantime, I would like to just let the witnesses know and to remind them that, once they begin giving evidence, they should not confer with any person other than their legal team in relation to their evidence on matters that are being discussed before...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Ciarán Lynch: Before we go back into public session, just to remind members if they have been using their mobile devices and other pieces of equipment during the short suspension, to make sure to put them back onto safe mode. Mr. Torpey, Mr. Gallagher, you're okay, yes? So I now propose that we go back into public session. Is that agreed? Our next questioner is Senator Sean Barrett. Senator, you have...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Ciarán Lynch: What the Senator is asking you is that there is a 300% miscalculation here when the whole thing is flattened out. This was the result of behaviour. Can you explain to us the behaviour that actually resulted in the 300% miscalculation?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Ciarán Lynch: Just to pick up on one point from Senator Barrett's question there with regard to the stress testing of impairment charges. At any time, did the board consult with your in-house economists in the assumptions used in the stress test?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Ciarán Lynch: Okay, thank you. Senator MacSharry, ten minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Ciarán Lynch: Just to bring in Mr. Gallagher there, before I bring in Senator O'Keeffe, on some of the questions that was put to yourself, Mr. Torpey, a number of the difficulties, it would appear or you can correct if it didn't appear, such as the banks' loans-deposit ratios, the difficulties associating this stress testing and so forth, may have been associated or not with Ulster Bank's growth strategy....

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Ciarán Lynch: But are you saying in that regard, so, that Ulster Bank were not narrowly based on growth in one specific sector and that sector being property?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Ciarán Lynch: Yes, but, going back to earlier testimony, to use your manufacturing concept ... a plastic bucket has a point to market when it arrives there, it has a positioning on it, it would have a price point and so forth. Property is very subjective and notional and far more taken to sentiment and other factors, as would be a plastic bucket. Therefore, it comes with entirely different type of risks....

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Ciarán Lynch: All right, thank you. Senator O'Keeffe.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Ciarán Lynch: Leave space to respond ther. I see the line of questioning ... I'll give Mr. Torpey some time and then bring yourself in again, Senator.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Ciarán Lynch: Your final question, Senator.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Ciarán Lynch: I'm sorry. What we're looking for here is that there is the regulator's behaviour with regard to what he or she considered to be problems with regard to an operation inside in Ulster Bank and there is a series of them. You'd have seen the witness books and rather than pulling them up and all the rest yesterday afternoon, but I think what the point the Senator wants to get to, we'll deal with...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

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