Results 2,601-2,620 of 4,168 for speaker:Susan O'Keeffe
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Susan O'Keeffe: You were at the Central Bank during the Ansbacher period, the National Irish, the Tony Taylor business. You were yourself when you were a director at Merrill Lynch you had ... there was a serious fine levied. So you would know about banks and financial institutions, if you like, getting into trouble, doing things wrong, breaking the rules. How then, with that level of knowledge, could ......
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Susan O'Keeffe: How could you ... how could you stand over that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Susan O'Keeffe: With all due respect in your own statement you say "The policy laid a heavy responsibility on the boards and senior management of banks''. You knew that; that's what the policy was about.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Susan O'Keeffe: But you had clear evidence of breaches on a constant basis. Your whole life had, you know, as a man in that position-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Susan O'Keeffe: Okay, okay, I'm sorry. You had seen, had you not, in your job, lots of breaches by various banks? How then would you have faith that banks could be in that position to ... to be responsible?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Susan O'Keeffe: Well, no, I wasn't looking to go into detail. Because, with due respect, I'll be stopped. And I don't actually want to. It's about the ethos, I think, I'm talking about.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Susan O'Keeffe: Okay, so just finally-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Susan O'Keeffe: So there was no ... would you say then that there was no push-back ever from financial institutions if they were asked about ... I mean we have heard evidence of push-backs so-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Susan O'Keeffe: Yes, I think-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Susan O'Keeffe: I'm talking about the push-backs from the banks themselves, though, in relation to your you know, interventions or your observations or your asking for change-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Susan O'Keeffe: Thanks, Chair. After 2004, when the IMF and the OECD and ECOFIN all clearly recommended a tighter fiscal stance and the building up of a cushion for the time when income from property-related transactions would fall, can you say why, in your view, the Central Bank's recommendations to the Minister didn't more forcefully alert this particular issue?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Susan O'Keeffe: Do you think that, given that the Central Bank's whole approach was to not say things in public for fear of spooking the horses that then ... that actually led to a reluctance also to grasp things internally?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Susan O'Keeffe: The very fact that you weren't doing it externally?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Susan O'Keeffe: On page 7 of your own statement, you refer to the regulator paying close attention to the Central Bank's stress tests, which were largely carried out in the banks themselves under supervision of the Central Bank. Does that mean that the banks themselves were very much involved in the stress testing, and was the supervision on a permanent, you know, were they there all the time, or was it that...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Susan O'Keeffe: So, so if the banks were left, if you like, to do the number crunching, as you put it, then, in a way, there was no way of knowing, really, how close and verified-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Susan O'Keeffe: Yes, okay. I think I heard you say earlier on that you ... if you like, you would have preferred an organisation that was a little bit more ... what was the word you used ... a little bit more dynamic?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Susan O'Keeffe: I think that was the word you might have used. Did you find that ... that there was a mismatch, if you like, between your own expectation, perhaps, when you took up the post and when you realised then what the organisation might have been like, that it was less dynamic than you might have imagined?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Susan O'Keeffe: Because you say actually, on page 2, you say, "...the culture, which in my view was generally hierarchical, deferential, cautious and secretive", so they're four quite strong words. Of those would you have ... were any one of those more ... had a greater impact than any of the others, or were they collectively creating a kind of culture?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Susan O'Keeffe: And wasn't, perhaps, allowing things to be heard either. It would have been-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Susan O'Keeffe: But the secretive aspect, perhaps, also, is that something you'd like to dwell on?