Results 1,501-1,520 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: Okay. As a suggestion that this was Irish institutions operating in a bubble ... if I can put this premise to you, that this was Irish institutions operating in a bubble, in a domestic market, ultimately just washing one another's laundry?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: Indeed.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: Okay. Can I just bring up there, a slide here, okay? The next document coming up, Mr. Merriman, relates to its EBS Building Society minutes of the board meeting held on 17 November 2008. So, it's the minute relating to the same date of the earlier transaction. And if I can just bring you to the second column to the right and just take you down some of the language here: Fidelma Clarke...

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: I understand the context of it but there is also what would be, kind of, maybe real-time information at the time that people in the business would be aware of. Were you aware that the NTMA had reservations with regard to these two institutions and would not ... and had serious concerns with putting any of their own assets into these institutions?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: Well, you ... no, I'm asking you were you aware-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: -----that the NTMA had reservations about these?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: Sure. And so this is after the guarantee and you're now looking to be buying bonds from other banks and all the rest of it as a kind of means of a cross supporting one another.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: Yes, I understand that.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: But we're not in a normal market here now one month after the State has actually guaranteed financial institutions.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: Was there any discussion in your institution with regard to the Nationwide or with regard to Anglo of how safe or unsound or how wise or unwise it would be for the EBS to be buying bonds from any of these two institutions?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: At any time.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: And just on the broader level of those two institutions, I just want to know, at board level was there concern with any transactions that your institution might engage with with those two institutions?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: At that time?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: Okay. Thank you. Senator Susan O'Keeffe.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: I need you to ask the question so that he gets time to respond.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: Senator D'Arcy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: It's page 45 in the core booklet.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Ciarán Lynch: It's on the monitor there now, Senator, as well, just to assist you.