Results 2,641-2,660 of 4,414 for speaker:Sean Barrett

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Sean Barrett: That is the last one, Chairman, thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Sean Barrett: Glad to hear that. It is over your logo. Thank you very much. Thanks, Chairman.

Seanad: Action Plan for Jobs: Motion (29 Apr 2015)

Sean Barrett: I second the amendment. I welcome the Minister, the debate and the success at this time. Few people have been more active in the field of start-ups up and down the country than the Minister and great credit is due to him and his agencies. I have just come from a meeting of the Joint Committee of Inquiry into the Banking Crisis. I hope that when that report is complete, it will make a...

Seanad: Action Plan for Jobs: Motion (29 Apr 2015)

Sean Barrett: Hear, hear.

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

Sean Barrett: Go raibh maith agat, a Chathaoirligh, and welcome to our visitors from AIB. What was proposed on the night of the guarantee was a four-bank guarantee. Was that for deposits only and how much would that guarantee have cost?

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

Sean Barrett: So you had two organisations left out. Were there any other differences between what the Government actually did and what you were proposing, apart from leaving out two banks?

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

Sean Barrett: But we don't know the difference between the cost of what you were proposing and what the costs turned out to be for the Government's proposals, is that right?

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

Sean Barrett: The regulator proposals of the McDowell report earlier in that decade ... did the banks support those or oppose them?

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

Sean Barrett: It was a proposal for a separate regulator and it was opposed by the Department of Finance and the Central Bank. There was quite a controversy at the time, probably under Mr. Buckley's term I suppose.

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

Sean Barrett: Yes.

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

Sean Barrett: The question of property was raised by Jim O'Leary, an economist from NUI Maynooth, at the board meeting on 13 January 2004 ... at your board. What resulted from that query by Mr. O'Leary?

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

Sean Barrett: 2004.

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

Sean Barrett: Mr. Buckley, I think, was in charge at that time.

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

Sean Barrett: B1, page 74.

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

Sean Barrett: Because in the group internal audit report in March 2006, which is B4, page 6, Chairman-----

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

Sean Barrett: Of Vol. 1. What that states ... the audit ... 2.5 years, virtually, later than when Jim O'Leary made his comment in January 2004, the audit in 2006:The audit did not include an assessment of property related credit quality. In addition we did not raise an issue around the management of concentration risk at a Group level as this was raised in a previous audit of the Credit Framework in...

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

Sean Barrett: Thank you. Because on B2, Vol. 1, page 19, in May 2007, Dr. Alan Ahearne was making the same concerns to the board ... that property prices were 30% overvalued.

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

Sean Barrett: But the eventual discount from the properties transferred by you to NAMA was 56%.

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

Sean Barrett: Mr. Forde told us that the threshold submission to the group credit committee for loan approval was raised from €40 million in 2005 to €75 million in 2006. That's an 88% increase. Did that indicate that this ... we were getting out of touch with ... a property bubble ... to raise the threshold by 88%?

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

Sean Barrett: Could I draw attention, Chairman, to B1, Vol. 1, page 62? There's increase in exposure to a company from €789 million to €991 million where the large ... the group large exposure policy limit was €150 million. So the increase alone at one board meeting was greater than the limit and the eventual ... the new limit was six times what the original one...