Results 17,761-17,780 of 26,097 for speaker:Kieran O'Donnell

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Kieran O'Donnell: Should you have breached the limits?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Kieran O'Donnell: And can you explain, Mr. Sheehy, why, under your tenure, between '05 on, your development loans, property and construction loans, you had a 52% rise in '05; '06, 41%; '07, 32%; way in excess of your competitors in Bank of Ireland, which were 23%, 23% and 22%, virtually ... significantly less. And, looking at it, that even with Anglo in 2005, you had 52% of an increase and you had ... Anglo...

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Kieran O'Donnell: Well, except, Mr. Sheehy, it made you-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Kieran O'Donnell: Correct, I accept that, but generally.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Kieran O'Donnell: And how do you view that in the context that you were so exposed to property that it has meant that €20 billion of taxpayers' money has ended up going into AIB? And you're on record as saying that you'd rather die than take equity.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Kieran O'Donnell: Twenty billion euro of taxpayers' money gone into AIB.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Kieran O'Donnell: As a result of this jumping, we'll say, into property and at such a rapid rate.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Kieran O'Donnell: Can I just move on to the guarantee? And you made reference to your quote that the ... it's on AIB C3b, Vol. 2, page 29, which is the minutes of the Department of Finance. And you said: "People we've been dealing with for decades pulling back. One month we would be funding bank overnight. Bad if it can't even get that disaster bankruptcy." Are you disowning that statement?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Kieran O'Donnell: Had ye a liquidity problem? Did AIB-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Kieran O'Donnell: And are you saying AIB did not have a solvency problem on the night of the guarantee?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Kieran O'Donnell: And on the night of the guarantee did AIB go in with a guarantee, I suppose, an outline, a draft of a guarantee?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Kieran O'Donnell: What was the outline of that? What was the outline of your guarantee you were looking for?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Kieran O'Donnell: The specific form of a guarantee you were looking for?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Kieran O'Donnell: And if you were looking for both Anglo and Irish Nationwide to be nationalised?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Kieran O'Donnell: Did ye have further discussions, communications with Government or officials in the Financial Regulator after the guarantee was put in place on the night of the guarantee?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Kieran O'Donnell: Can I ask you ... yes, can I ask you in the context of AIB C3b, Vol. 2, page 45, Project Omega, what was Project Omega?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Kieran O'Donnell: Finance.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Kieran O'Donnell: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Kieran O'Donnell: Not discussed by the board. Why not?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Kieran O'Donnell: Okay. And did the board accept that?