Results 7,181-7,200 of 16,492 for speaker:Ciarán Lynch
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: This is related to solvency with the bank.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: I'll be bringing you back in at the end, Deputy. You'll have time; okay?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Thank you very much. That concludes the leads, but there is just one issue, maybe if we can just get a bit of further clarity on the appropriateness of property-related lending strategies and risk appetite in AIB. This relates to core document AIB PB2, page 6, item 4, or 4.2. Very simply, Mr. Forde, the Central Bank have a licensing and supervision requirements and standards for credit...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Yes?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: I have heard the expression kind of used sometimes, maybe on the roads of west Cork, that people would say the rules of the road are a suggestion. In this case the rules of the road are actually the law. Were these rules that were regulated, steadfast rules, or were they interpretive rules?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: I want to try to establish then, on foot of that, Mr. Forde, is, obviously whether it's a guideline or a rule, I would imagine there would be a mechanism - correct me if I'm wrong - that in AIB somebody would say, "Hang on a second, we need to be looking at this," and it gets fed up the line. How far up the line-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Fed down the line?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: So the board would have been aware of this?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Okay. So, the ... so, at board level in authority then would feed this down the line. Okay, so what was the remedial action, because the outcome seemed to have been that you now went up to 390% by September 2008? One would imagine that the action was to break this down or to slow it down and to calm the jets, but in fact it went the other way. So, what was the action, because if the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: That's not the ... but that's not the question I'm asking you, with respect, Mr. Forde.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: We know that you were in an area that you were breaching, whether these were guidelines or rules and, correct me if I'm wrong, one would assume that the then desired action would be to get more congruent and in line with what the rules are, but the outcome over the two year period was to go further beyond the limits. So, was there a direction to calm things down or was there any direction at all?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: I'm not going to labour over the point, but it was 260%, above 250%, which is marginally above it, but it was then 390%, which would seem to have been quite a distance. I raised this with Mr. Gleeson this morning and I'm just wondering if these figures are related to the point I was making. There was a suggestion that other banks may have been eating AIB's lunch, and particularly in the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Okay, thank you. Deputy Kieran O'Donnell. Deputy, ten minutes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: That is leading ... can you ask would they be ... which-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Was there?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: I'm available.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Sorry, Deputy, you are moving into lecturing-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Just ask a question please because you're running out of time.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Ciarán Lynch: Deputy, I am going to make an interjection here. You are running out of time and your questioning is running out of line. Can you put a question?