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Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Kieran O'Donnell: Did you disagree then with the Minister for Finance and Kevin Cardiff on their view that Anglo should be nationalised?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: Thanks Chairman. Welcome, Mr. O'Reilly. For the purpose of an internal review, I'm going to document Vol. 3, page 40, which is effectively, it's a section 33AK document but it's ... it's in the aspect, really, of the internal view of the first crisis simulation exercise in 2005 that in a crisis scenario there is a limit in the type of information that can be provided by a principles-based...

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: You would have been on the board of Merrill Lynch when they were appointed as advisers to the Irish Government.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: What unit were you a member of the board?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: And how did you come to be appointed to the board of Merrill Lynch in Ireland?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: Was that a paid position?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: And how did you come to be on the board of Permanent TSB?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: Before or after the crisis broke?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: Was that a paid position?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: And did you feel that you ... there would be a conflict of interest in any way by going on the board of Permanent TSB, a bank that you had regulating ... had been the regulator of a short time previously?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: Well it was ... well you were a regulator up to January 2006.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: So it would have been-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: For what purpose were you brought on the board of Permanent TSB?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: Did you want ... did you interact with the Financial Regulator on behalf of the board-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: ------at any stage when you were on the board?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: How would you describe your relationship with the banking institutions? In hindsight, were there any aspects of these relations that you consider inappropriate?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: Chairman, can I refer FRG Vol. 1, page 102 in that context, and specifically the second last paragraph, and it says "Indeed, the Financial Regulator's record[s] of the meetings is incomplete". It was about meetings with the banks. How often in your time from 2002 to 2006 would you have met with the CEO of banks?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: Page 102.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: In that period?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: And would you have met them on your own?

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