Results 6,741-6,760 of 16,492 for speaker:Ciarán Lynch

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

Ciarán Lynch: By data mining, does that mean to identify people who are under-borrowed?

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

Ciarán Lynch: But were Bank of Ireland engaged in the process of looking through that data mining and say, well ... Mr. Lynch looks like he has the potential, on his earnings, to borrow another €40,000 or another €400,000 a year, and Bank of Ireland then would look at maybe what sort of products would be available for him to avail of, given the credit that he would have access to?

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

Ciarán Lynch: And would they get a call ... would Mr. Lynch being ... not me, but some other person maybe ... would Mr. Lynch then get a call from the bank saying, well we got all these products, and we'd like to talk to you about them?

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

Ciarán Lynch: Okay. And were there bonuses for the staffs making those calls?

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

Ciarán Lynch: No, this is between 2007 and ... between-----

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

Ciarán Lynch: -----between 2004 to 2007?

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

Ciarán Lynch: Okay, if somebody was to take out an investment product, or let's say, to invest in a buy to let because they had a lot of equity in their property, they bought it in 1980s and so forth, which would be on the ... typical customer of most banks in and around the early 2000s. A lot of people would have their mortgage well pared down and there would have been massive equity on their property...

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

Ciarán Lynch: Okay, but you're not categorical in saying that there's not-----

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

Ciarán Lynch: Okay. Senator D'Arcy. Ten minutes, Senator.

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

Ciarán Lynch: You are over your time so I need to push you to the final question.

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

Ciarán Lynch: Last question, Senator.

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

Ciarán Lynch: Yes, indeed.

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

Ciarán Lynch: Okay, thank you very much. I just want to deal with one matter there, before we move on, and it's core document BOI - Vol. 1, C3b, Mr. Goggin. Earlier there, you said-----

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

Ciarán Lynch: It's page 4, paragraph 2.

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

Ciarán Lynch: It's just to tidy up the issue there with regard to INBS. Did you say earlier that the issue didn't go to the board of Bank of Ireland?

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

Ciarán Lynch: I'll just explain to the committee-----

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

Ciarán Lynch: Yes. It's the court minute extract at 3 October 2008.

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

Ciarán Lynch: That's all right, yes.

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

Ciarán Lynch: Okay. So, the board were aware-----

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

Ciarán Lynch: -----of the extract there. It says, "Mr. Goggin recalled the conclusion at the previous Court in relation to INBS, that the Governor and Group CEO should open channels of communication directly with Government, at political as well as official level, and confirmed that this had been done and remains active."