Results 2,721-2,740 of 7,082 for speaker:John Paul Phelan
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
John Paul Phelan: Okay. Can I ask you, then, in relation to questions touched on by previous speakers, loans taken on by NAMA from Anglo? Estimated that €9 billion worth of interest roll-up loans were taken ... were transferred from five banks, €3 billion relating to Anglo. Were you aware of the level of interest roll-up included in Anglo's loan book?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
John Paul Phelan: Was that figure, or anything approaching that figure, ever discussed at senior board level or, indeed, at risk committee level?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
John Paul Phelan: Were there any special procedures put in place to monitor that level of increased risk, if you like, within the bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
John Paul Phelan: And do you believe the bank at the time had appropriate levels of information systems in place to monitor that risk?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
John Paul Phelan: Okay. Briefly then at the end, the report that was referenced by the Chairman, I think, earlier from the regulator outlining the 30 issues from 2007 ... you would have been, I think ... when did you become chairman of the risk committee? Mid-2007 was it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
John Paul Phelan: Okay, well, I think that was June or July 2007. You've said you weren't aware of it until the documents were presented-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
John Paul Phelan: Was it not your responsibility as a member of the committee, and, subsequently, as the chairman of the committee, to go searching for such information? I know that executive directors have a particular responsibility, and non-execs, and you've explained and we are familiar with the limitations on the role of non-executive directors. But in light of the fact that you were involved with the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
John Paul Phelan: But should you not have done it at the time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
John Paul Phelan: As a member of this committee, I feel that this ... well, I think many people would feel that these were legitimate questions that you should have asked and you became the chairman of the committee, that's the point-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
John Paul Phelan: Thank you, Chairman, and good evening, gentlemen, and welcome. Sorry for holding you up. We only have 15 minutes so I ... I'd encourage you to be as brief maybe in your responses as you can. I'll try and be as brief as I can in asking the questions. A gentle one first, Mr. Aynsley, for you. In your opinion, what were the main weaknesses in the Anglo business model ... in the years prior...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
John Paul Phelan: Okay. I can empathise, maybe, with ... you're ... you've an Australian coming ... I've many ... family there myself. I want to ask, in relation to your statement, you're very critical of the Government, the Department of Finance and, in particular, JM, who I presume is Mr. Moran, John Moran. Did your relationship deteriorate to such a degree that - and I think, actually, you said it in...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
John Paul Phelan: Did it deteriorate to such a point that you considered ... you considered your position or, maybe, even to put it the other way, did it deteriorate to such an extent that you regretted arriving on these shores in the first place?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
John Paul Phelan: Thank you. I want to turn, because time is moving on, to Mr. Dukes and a couple of questions that I wish to ask him also. Could I ask you, Mr. Dukes, could you briefly describe the prevailing culture again that you encountered when you were first appointed as a public interest director on the board of Anglo in December or, I think you said, November 2008?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
John Paul Phelan: Mr. Dukes, I am sorry now ... I just have to cut you because you're ... I'm down to five minutes and I've a whole heap more of questions that I wish to ask you. But I think I've got a flavour from what your answer ... I'm not trying to-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
John Paul Phelan: Yes ... well, I-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
John Paul Phelan: Briefly, also, I just wanted to ask you ... you weren't as forthcoming, at least in your original written statement, about the nature of relationships that existed from your time with the Department and the regulator. Can you elaborate and be as brief as you can? We're down under five minutes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
John Paul Phelan: The ... that nature of that ... those relationships-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
John Paul Phelan: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
John Paul Phelan: Can I ask you, then, in my last minute or two, how did your appointment come about initially as a public interest director in Anglo?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
John Paul Phelan: Okay.