Results 2,401-2,420 of 4,168 for speaker:Susan O'Keeffe
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: Were the banks solvent, in your view?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: Thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: Thank you, Chair. Ms Burke, at what point did you begin to be concerned about the liquidity of the Irish banking system?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: And so, as things escalated, do you recall a point at which it became more urgent than it had been previously?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: And then, if you like, we saw it all, if you like, unravel, unfold, right all the way through until September, in terms of banking and the banking system in the country. Is that a long time or a short time, that many months? Because it's very hard, I think, for members of the public, when we talk about millions and billions and loans, to know ... you know, if I have a crisis in my own bank,...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: Is it the case that when banks are illiquid or there's a problem with liquidity that there is always a risk to solvency, or is that ... is that a fair or an unfair statement?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: In that period of time that we ... that you've outlined, sort of maybe April, May, June, do you recall whether then at that point the issue of solvency and liquidity were being talked about at the same time, being talked about together, or was the focus entirely and solely on liquidity?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: Yes, it's okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: We'll help you. So in 2006, when you became head of that department, the banking supervision department, was there enough evidence about ... at that point building up of the shortcomings in lending and other controls with banks that you could see systemic risks were building up, or not?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: You say in your statement, written and verbal, that you were ... that there was a shortage of people ... actually, of resources for ... in your department to supervise and you talk about the expertise ... available specialist expertise is on page 5 of the written statement. There was not enough ... "available specialist expertise was not such as to be capable of delivering intrusive...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: Okay. And so you say that that has changed now but you did ask in 2008 for some additional resources. You didn't get them. Is that ... that's correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: You didn't get the extra people that you asked for. Do you know at what level in the bank that was refused? Was it at ... right ... up next ... or did it go all the way up to the board or the Governor or do you know?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: But you don't know at what level ultimately it was turned down, do you?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: But it was turned down.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: Okay. Do you recall a document that was delivered by the banking supervision department called the "Outlook for Liquidity - Irish Domestic Institutions" on 10 September 2008? So this would have been right up in the crisis time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: No, it wasn't.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: You've some, yes. Really rather than ask you the detail because you don't have it ... but, broadly speaking, do you recall how serious at that point, if you now ... you've come through from 2007 to April 2008, this is now mid-September 2008 ... how serious were things now for the banks that you examined in this document? And what ... I mean, we have some of it, some of it's been redacted.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: And what does that mean then when you guys say "very serious"? Is that a big red flag or ten red flags or how would you-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: But you do recall that there were two and that it was very serious and that you would have been saying to anyone who asked ... when they asked about it-----