Results 14,121-14,140 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: And Mr. Sugarman is himself in the risk department.

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 establish how all these sections interacted and how Mr. Sugarman got to the point where he felt he had to resign his post.

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, I want Mr. Sugarman to talk about the work that he did on the figures arrived at.

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?

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 was that?

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: Of 40%.

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: At that time, what were the figures that the accounting department was producing within UniCredit?

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: Is it fair to say that the accounting department effectively stated that there were no breaches of liquidity?

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 did they say in those weekly and monthly reports?

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: There was a difference of opinion between the risk manager and the accounting department within UniCredit 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: Fine.

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 the returns that were being made-----

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. Any returns that were made were made by the accounting department.

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: Is it reasonable to say that when the witness decided in July to hand deliver-----

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 date was the letter hand delivered to the Central Bank concerning the 20% breech?

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 that letter was delivered, is it fair to say that the Central Bank would have had returns from the accounting department of UniCredit stating that there were no breeches of liquidity at the same time?

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: Why did the witness feel it was necessary to resign instead of going to 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: I am not disputing that.

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: Outside consultants were brought in to do proper due diligence on the liquidity ratios, among other things. It came back with the figure of 40% liquidity. Why did the witness deem it necessary to resign the following morning? Why was a meeting with the CEO and the accounting department not called to sit down and discuss it?

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: The witness told me that he did not. Did he?