Results 2,321-2,340 of 4,168 for speaker:Susan O'Keeffe

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Susan O'Keeffe: Okay. Could you describe the status of the relationship between the Department of Finance and the Central Bank during your tenure and, in particular, given that you had been the Secretary General of that Department?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Susan O'Keeffe: I've one last question, if I may. At the beginning of ... sorry, late 2007, were you aware that the Financial Regulator had ... had ... had taken on an investigation of the top 20 of the exposures, you know, of the loans that the banks had? And that in-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Susan O'Keeffe: Yes, I know. Well, I'm finish ... it's my last question.

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Susan O'Keeffe: I'm just wondering whether Mr. Hurley is aware of that.

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Susan O'Keeffe: It's in documents we've been given. I'm sorry, it's very ... it's very difficult for us to know which-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Susan O'Keeffe: Well, in fairness, I did discuss late 2007, Chair, and-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Susan O'Keeffe: -----I was trying to ... trying to understand-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Susan O'Keeffe: Thank you. I'm just trying to find out whether you would have been aware that there had been some investigation into the banks' specific exposures through particular loans and the detail that was given of those loans.

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Susan O'Keeffe: No, no; all the banks.

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Susan O'Keeffe: All right but-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Susan O'Keeffe: I was just wondering whether it had been shared-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Susan O'Keeffe: That's all I was trying to clarify, Chair.

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Susan O'Keeffe: Thanks, Chair. Mr. Hurley, did the Central Bank ever assess worst-case contingency scenarios of a systemic bank failure?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Susan O'Keeffe: And even after Northern Rock had failed and, you know, we were much more acutely aware of what might happen, did that cause you to revisit?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Susan O'Keeffe: If we look, Mr. Hurley, if you like from sort of the end of November '07, we know that the Financial Regulator, for example, had been meeting with the various institutions to discuss their liquidity contingency plans. We've heard that. We know that assessments were being made of key loans at five banks. We know that INBS had particular financial instrument debt, if you like, of €7...

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Susan O'Keeffe: Even though-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Susan O'Keeffe: But all of these banks that were troubled at home, these were all actually exceptional circumstances and, in an Irish context, for that many banks-financial institutions to be in trouble simultaneously in a small country, how come it didn't cause the Central Bank to act more quickly to calm things rather than wait for it to accumulate into that single night when it all went-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Susan O'Keeffe: -----into the air?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Susan O'Keeffe: How could it not accumulate, Mr. Hurley, if ... if the ... in the size of the country, if you have so many institutions saying, "We're in trouble, we're in trouble'', in all kinds of different ways.

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Susan O'Keeffe: No, but we're not interested in everywhere, we're just interested in Ireland.