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

Ciarán Lynch: Jurisdiction-----

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

Ciarán Lynch: Yes.

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

Ciarán Lynch: Okay, so maybe-----

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

Ciarán Lynch: The ... as I said, there is 30 or so separate items there, 15 different headings. I am not too sure if there are other aspects of the banks or any remaining aspects of the banks that there didn't seem to be a concern about because the regulator's ... the letter indicates that they are looking at ... that this is not a concluded list. But what I am trying to scope out with you this...

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

Ciarán Lynch: Okay-----

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

Ciarán Lynch: I'll deal item 14 and 15 there-----

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

Ciarán Lynch: -----which is the "Group Risk Management Operations Board" and there is two specific items there. One is, "Terms of Reference should be reviewed periodically to ensure that they remain appropriate." and then it says, "Committee minutes should clearly reflect the discussions held." Now, I am still trying to establish the question I asked you earlier is: how would you not be aware of a...

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

Ciarán Lynch: You weren't told about it-----

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

Ciarán Lynch: Okay.

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

Ciarán Lynch: But I am still-----

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

Ciarán Lynch: -----not sure Mr. Drury and I will just repeat the question again. How were you not aware of such a significant regulator's report? Fifteen different areas of the bank that you were an non-executive director were flagged as concerns by the Financial Regulator's office. All the specific items ... I'm not talking about 15 issues, I am talking about 15 sections in the bank. How would you not...

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

Ciarán Lynch: The question is very simple, Mr. Drury-----

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

Ciarán Lynch: -----how could you not be aware of that?

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

Ciarán Lynch: We-----

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

Ciarán Lynch: We have been to Switzerland-----

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

Ciarán Lynch: You were not told. Okay, all right.

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

Ciarán Lynch: Okay, but in this regard, the regulator did contact Anglo Irish Bank. But I am just trying to get to know what was the process regarding the issue-----

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

Ciarán Lynch: Okay-----

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

Ciarán Lynch: All right, okay-----

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

Ciarán Lynch: Okay, all right, thank you. Deputy Kieran O'Donnell.

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