Results 14,081-14,100 of 26,053 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: I welcome Mr. Sugarman. He may not be aware that I was also involved in the banking inquiry.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: My colleague, Deputy Michael D'Arcy, has dealt with a lot of matters, but I wish to make a couple of points. Mr. Sugarman has said he is attending today to regain his good name.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: I will deal with the nuts and bolts. New regulations were brought forward on 1 July 2007.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: On what date did Mr. Sugarman join the bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: Under the old regulations were liquidity limits breached? Mr. Sugarman has said that when the bank ran the calculations in parallel, there was a figure of 20% for breaches.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: No. The calculations were run in parallel for six months up to July 2007. In satisfying the requirements under the old regulations, based on the same financial data, were there breaches?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: Were there also breaches under the new regulations?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: How much more onerous were the new regulations compared to the old ones?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: Mr. Sugarman has spoken about a figure of 20% for breaches. If there was a breach under the old regulations, what would it have been?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: What was breached under the old regulations?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: I want to know the severity of the breaches under the old regulations.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: I ask Mr. Sugarman to advise me on the process. To whom did he report the breaches? Will he, please, explain the line of command in the bank? What was the process involved? As I said earlier, my job was to see everything and touch nothing. My job was to monitor and report.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: Who did Mr. Sugarman report to?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: Would Mr. Sugarman have taken it upon himself to report to the Central Bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: Who signed that letter?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: Did that letter go to the Central Bank with the CEO's agreement?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: When it went to the Central Bank, what was the view taken?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: And when Mr. Sugarman went to the Central Bank, did he physically hand it over a desk or did he look to meet someone?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: When the Central Bank came back the following day, what view did Mr. Sugarman take and what view was taken by the bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: What happened?