Results 1,981-2,000 of 4,168 for speaker:Susan O'Keeffe

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: On the ... you just spoke briefly about the guarantee, the night of the guarantee, and you said that you learned about it, I think, the next day; is that correct?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: So, obviously in the day leading up to the night, there were obviously all kinds of meeting, Anglo Irish, the Central Bank, all kinds of people were on the phone. Bank of Ireland and AIB obviously decided to go in and see the Government because they felt things were really, really running into the wall. How was it that Ulster Bank was just completely not in that loop?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: Did anyone ask you to buy Anglo Irish?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: And what about Irish Nationwide?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: No, okay. So, did you ever make any phone calls to the Department of Finance, or did anybody from the Department of Finance ever contact you, in and around this period of time while you were talking to the Financial Regulator? Was there any conversation?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: Not prior?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: Okay. When you talked about wanting to be the third force, as a bank, did your company spend much on marketing, or how did you ... was that something that was internal idea or did you externalise it? How did that manifest itself?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: Yes. On Vol. 1, B5, page 4, you talk about incentive schemes and you say they "included Commercial [and] Residential real estate loan volumes" and I'm just trying to establish whether or not the incentive schemes were linked to volume.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: No, I appreciate it's not one thing, but it does specify, "included Commercial/Residential real estate loan volumes" and I'm just trying to-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: Okay, okay. Just coming to the end, on page 4 of your statement, you say: "I was assured by Royal Bank of Scotland that capital and funding support would be made available to support growth. In this regard, capital and liquidity management were not considered to be a critical, local Ulster Bank priority." Do you think that this may have had, or did it have, an effect on the behaviour and...

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: So you don't think that the combined facilities available to Ulster Bank of risk transfer and funding support mimicked the sort of function of cheap credit following the EMU that you yourself raised in your opening statement?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: But comforting, rather than that it gave rise to risk?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: To make people more reckless? Yes, I'm just clarifying.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: Thank you, Chair. Mr. McCarthy, in relation to ... particularly in relation to property, but in general, did you think that, at the time as ... when you were a member of the board, that there was sufficient level of discussion and challenge at the board about concentration risks at both sector and borrower level that you were facing? Did you feel that it was a good robust board?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: Given your evidence today, Mr. McCarthy, would you say that you were broadly satisfied with the bank's behaviour over the years that we've discussed?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: As you watched the ... you know, the sort of crash develop and as developers became ... you know, their loans and their situation became more apparent ... and some of them in the public domain at the time ... was it the case that Ulster Bank discovered that some of the people they .... you'd be doing business with, particularly lending money to, did you find that they had been borrowing money...

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: And, if so, to what extent did that happen?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: Now, when you say good insight, do you mean that you ... you know, does that mean all of those loans were okay? Were you caught? Did people not give you information? Were there moments when, as I said, when you saw it unwinding that you realised certain people had used other vehicles, other consortium, other companies, other structures to not tell you about things or was it all just...