Results 761-780 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: I am not going to go into that-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: Sorry, Senator, let me make this very clear-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: Let me make this very clear from the outgo: this committee would be subject to a very serious court injunction if we were to go into that space. So that conversation is ending-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: It's ending right now. It's ending right now.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: Final question now, Senator, and then I'm moving on.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: Okay. Thank you, Senator. I'll bring you back in later. Deputy McGrath.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: If I may stay with that for a moment with Mr. Fitzgerald, in that, in December 2007, the group ALCO - or asset and liability committee - and the ALCO liquidity committee approved a stress testing and scenario analysis. I'll just bring it up on the screen there, just an example of it. This relates, I think, it's to you ... it's one of the core documents, Vol. 2, 37 to 59. I think it's two...

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: Right.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: The policy does not include an extreme doomsday scenario similar to that which occurred post the collapse of Lehman Brothers. Can you explain why that wasn't the case in this instance?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: And that is December 2007.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: Just about nine months later, the bank doesn't go beyond the point of rescue; it actually gets rescued-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: -----in September 2008 and in January 2009, the bank is nationalised. In the period leading up to the guarantee, were you aware of any discussions that might have been taking place in Anglo that the bank was seeking to be guaranteed or may be guaranteed?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: Okay, yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: Were you surprised that your bank was guaranteed, or were you not?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: And why were you not surprised?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: And from hindsight what is your understanding of the rationale as to why Anglo Irish Bank was guaranteed?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: Yes, as and from now.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: That it was systemic.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Ciarán Lynch: The bank was subsequently nationalised in January '09 and this committee has heard evidence in regard to ... that even nationalisation of Anglo was considered on the night of the guarantee. When did you first become aware of any consideration that your bank might be nationalised?