Results 23,321-23,340 of 35,959 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: But KPMG are saying there that there was little market and operational overview and salient financial commentary wasn't being provided to you in the board.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: So do you agree with everything KPMG says or just do you dispute that part?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Okay. That's fine, if you're satisfied that you were fully aware. As to the commercial lending business when it particularly grew, were the levels of impairment and the changes in accounting rules clearly articulated to the board to fully appreciate the risks that your institution was taking?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: What about the impairments?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: We're not interested in the other society at this point in time.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: But, your pointing isn't going to help anyone in terms of-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: And, the provisions that you were providing was .... at 2008, was?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Which was a total of what?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: €450 million and within, what, 16 months, 12 months it went to €5.4 billion. Would that be correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Okay. Can I ask you in relation to the Central Bank's findings? This is in relation to your role on the board. It talked about, under its own internal policies ... and it's reviewed 110,000 documents here ... it's not ... it's an intensive investigation and I presume it's based on evidence on looking at the documents. It says, "Under its own internal policies and procedures, INBS was...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: No, that's not an exceptions policy; that was actually a policy that everything above €1 million had to go to the board for approval. An exceptions policy is where it would be an exception to the credit policy of the bank. The question quite clearly-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Yes. You still haven't answered my question and it's only the first of a-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: There are four parts I need to ask you in this here so let's just focus on the question. Under your bank's own policies, exception policies had to come to the board in reports.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: The Central Bank has found-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Yes, and exceptions.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: That's not the question that I'm asking you. In terms of exception policies, it says the Central Bank has found that INBS was required to provide certain reports. It's saying that between December 2005 and September 2008, the reports in exception to commercial policies ... these were one of the findings that was not happening. It said such reports would have given the board insight. So...