Results 961-980 of 16,492 for speaker:Ciarán Lynch
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: €3 billion of it is the accumulated sum. €3 billion. It's not loan-by-loan basis; there's €3 billion of interest roll-up out there. That's not a small figure now, Mr. Moran.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: Maybe you could just maybe explain as to why the head of compliance was involved in compiling a business plan.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: Okay, would that be normal practice in financial institutions for management and those to be involved in business generation, who are compliancy officers?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: Okay. Mr. Moran, as chief financial officer, would you have had detailed knowledge of the main elements of the account of the bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: Of the accounts of the bank.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: So, maybe you could explain to us, then, why you would not have been aware of the level of interest roll-up into the accounts. These figures would have been generated by risk and they would have been part of the overall interest income figure of the bank.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: I'm just trying to figure this out in layman's terms, in that if I was operating a household like this - I mean, €3 billion - the bailout of the bank and the overall bailout of all the sums, I mean, we've moved into billions so, sometimes, we kind of, unless the extra zeros aren't there we don't recognise it as a figure. But, as you were saying earlier in your testimony, in early 2008...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: Mr. Moran, as a senior executive responsible for key functions such as financial reporting and investor relations, how important a role did you feel that you played in maintaining the image of Anglo as a solvent bank with a low risk profile?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: Were you not important people, according to Senator Barrett there, in, kind of, presenting the retail window and the shop window of Anglo to make sure that everybody was seeing that you were in good shape?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: I'll rephrase ... or, I won't rephrase the question, I'll give it back to you exactly, because the word "image" is the important part of the question here, and it's how important a role did you feel you played in maintaining the image of Anglo as a solvent bank with a low risk profile?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: And in that regard, were your actions appropriate and did you carry out your duty to be open and transparent with the market in general as a publicly-quoted company?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: I'm ... I ... my question relates to my earlier question of you going out there and maintaining an image of Anglo as a solvent bank with a low risk profile. My question to you is, in that regard, were your actions appropriate and did you carry out your duty to be an ... open and transparent with the market in general as a publicly-quoted company?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: Okay. I still don't know if you've answered the question or not, so I'm going to give it to you once more. My question to you is that you played a role in maintaining an image of Anglo as a solvent bank with a low risk profile.
- 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: Just be mindful of what you say.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: Were you aware the NTMA were not putting money into you?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: You never knew that.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: The NTMA had to be instructed to put money into you at one stage because they were so resistant to doing so. You were not aware of that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: The Government weren't ... instructed the NTMA at one stage to put money into Anglo and the NTMA in evidence here said that they ... they ... Mr. Somers said he had to go away and get legal advice and then informed that on the foot of a ministerial direction he would actually put money in there. That was ... you were never aware of those issues, no?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Ciarán Lynch: All right, thank you. I'm going to bring matters to conclusion, Mr. Moran. I'm to ... as with every witness, I'd like to allow you some space to maybe comment upon anything you'd like to further add. It could be ... it might even be some further detail, recommendations or any other comments that you'd like to make.