Results 921-940 of 16,492 for speaker:Ciarán Lynch
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: And the next document coming up on the screen is actually in Vol. 2, page 25. It's the Anglo annual report of 2009. And here what we actually see is that, in the event, the actual impairment charge at the end of 2009 amounted to 19.2% of the loan portfolio. So what was predicted was 1.2% and what actually happened was 19.2%. Did management get any external economic advice or input into...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: Sure, yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: That's correct.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: There is a lot of figures and details there but I just want ... in terms of what were the top-line events that were actually happening around that time, Mr. Moran, is ... we have testimony here that there was discussions about the requirement to ... or the potential or the possibility of guaranteeing financial institutions in the State. There was preparations, at some stage or other of 2008,...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: Okay, and, in that regard, did ... in terms of stress testing here, some of the kind of aspects of it, did the stress testing take into account correlations between types of property being financed - investment, development, speculative landbanks and so forth?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: And that brings me to my next question - individuals. One of the notable aspects of the Anglo loan book is the short number of individuals and the great exposures that were there. Was that ever taken into ... as part of the consideration under stress testing?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: Okay. You just said earlier - I think it was ... I'm not too sure whether it was to Senator Barrett - that you were not aware of the scale of the interest roll-up. As CFO, were you involved in producing the accounts for the bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: So, in that regard, would this not have been a number that you would have seen when compiling the accounts?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: I'll just come back to the question. Did you see the numbers when compiling the accounts?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: Okay. If ... so you haven't ... do you think that this should have been a number that was transparent in compiling the accounts? Should it have been there when you were looking at the accounts?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: But you don't think it should've been in the figures that were being presented to yourself, no?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: I just want to go with an issue that you responded to Deputy Murphy as well. You were asked specifically what political contacts you made and obviously you would have detail in regard to that. Are you aware of other political contacts that were made by the bank? Like, was there a meeting to say, "Well, Mr. Moran, you go and talk to such and such a person; such and such a person, you go and...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: And as a senior manager in the bank and in the growing flux that we are concerned ... and the growing awareness of the evolving issues of the bank, were Anglo ... because you've had ... can I just say, were they the only two times you ever had political engagements or political meetings of that nature? Outside of the ... they seem to relate specifically to the crisis period. Was there other...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: And, just as an overall strategy, if there was access to ... to gain access to a political ear, as such, with issues relating to Anglo, who would be the person that would deal with that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: Okay, and what would they do? Would they do it themselves or would they delegate somebody else to do it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: You don't know of any other situations where other people were delegated, no?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: Okay, thank you. Deputy Michael McGrath.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: Thank you very much. Deputy John Paul Phelan.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: Just for a moment here. Just on that matter, while you may have immunity, and that's been acknowledged and everything else-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: Yes, the clock is stopped. That should not be misconstrued or misinterpreted that Mr. Moran has the freedom to say whatever he actually wants inside here because there would be witnesses and people who may be facing some procedures that could be impacted by what Mr. Moran might actually comment upon. Would I be right in that regard?