Results 6,701-6,720 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: It went to 176%, okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: So you were ... the increase ... the continued increase in this area and the increase of the asset size of the books, could that not only lead to further exposure to wholesale markets, which would have seen the problems that were actually happening out there?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: Would it not ... the increase in exposure that was happening because of-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: Yes, to the wholesale markets.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: What was your view of that? Were you not creating a situation where you would become very, very vulnerable to the wholesale market-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: ----- because of this?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: But in the Nyberg report ... and I can pull up the document ... but in the general comment in that is that you were ... the issue of borrowing long or ... and that ... you were lending short ... and lending long-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: -----and borrowing short, which is in the Nyberg report. Was that not at the crux of all this?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: And at any time did the bank consider slowing its asset growth and taking a more conservative approach?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: Just one final question before we go to the break, so, Mr. Goggin, and that is ... it relates to core documents, Bank of Ireland - Vol. 1, B1.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: B1, pages 95-98.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: Yes, sure.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: Take your time.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: Pages 95-98.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: Yes. And I'll be taking this in a generalised approach so I-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: -----won't be taking you through it page by page.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: On core documents, BOI - Vol. 1, B2, so it's just for the record, pages 63-67. And what we're looking at here is property concentration in the group's loan book and sectoral exposures, so on.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: And what's been demonstrated here is a level of exposure of property lending. And the lending ... that this was regularly commented upon in the GRPC ... and in December 2007 ... and it noted that 44% of all non-mortgage lending is into property. So there's sectoral concerns ... lending concerns in the particular sectors now developing. And when the figures for mortgage lending and property...

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: But was there any contingency in there that if employment rates fell into the future ... because, as Nyberg and other reports have demonstrated, there's a systemic relationship to house values-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: -----and people's ability to get work. Was there any cognisance that we were at record employment levels at that time - almost considered 100% employment ... that if employment levels fell, would there be an exposure and an inability, as Deputy O'Donnell explained, with people's ability not to pay back their loans?