Results 2,861-2,880 of 4,414 for speaker:Sean Barrett
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: Was there an option of a lower rate of increase than 100%, considering at that time-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: Are the ... this is to both, are you aware of any loans or terms offered to borrowers which might be considered outside the normal commercial terms made during your tenure and-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: Outside normal commercial terms.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: And Mr. Burrows?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: Okay then. Now the ... Vol. 2, page 12, on page ... Vol. 2, sorry, page 67. In this one, when it appears, the regulator wrote drawing attention to the high level of exceptions to standard criteria, 24% exceptions in loans. How was that happening, and were there concerns about that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: It's a letter of 31 July, 2013 and I think it's on page 67 of that volume. Mine hasn't appeared so I can't be of help to you. Sorry about that, Mr. Crowley.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: It is the highlighting of exceptions to standard criteria at 24%. Did that concern you or the other governors or why ... how did it happen?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: Was the board concerned about exceptions, or would 24% be considered normal?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: And on your watch, Mr. Burrows? Was there a high level of exceptions?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: Can I bring you to the concentration ratios. Were they discussed in either of your terms of office?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: And was there concern about them?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: Because there's a letter on, from the Financial Regulator it's in B2, page 71.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: Book 2, page 71.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: If the regulator writes that she is concerned that you don't risk assets to more than 200% of own funds and the reply says, "Bank of Ireland remains comfortable with the exposure", to the outsider that's a strange attitude to the regulator, you know, if the referee draws my attention to fouling somebody and I say, "well I'm quite comfortable with that". Yes well, the referee's job was to...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: Thank you Chairman. The loan-to-deposit ratio rising very rapidly, now you said in your presentation in 2009 you attempted to get back a higher rate of deposits. But when it rose very rapidly, 159% instead of the recommended 120% in September 2008, were there alarm bells at that time about the high level of reliance on wholesale funding?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: And going .... your relationship with the regulator in other aspects. He wrote to the Bank of Ireland on 31 July 2013 about the maintenance of lending standards, ongoing monitoring, the management and control of risk in relation to residential mortgages and that correspondence was still in operation the following December. Was there a very slow rate of response and interaction between the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: In your time, what would you expect to have been the appropriate time to respond to concerns expressed by the regulator?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: Because again, he reports no evidence of where the balance of funding source was, the purchase price, stress testing not carried out, loan files not containing sufficient information to demonstrate the rationale for the lending decision, valuations of property not completed. And we had a affidavit yesterday, a document submitted from the Construction Industry Federation, requiring NAMA to...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: But there was still a 43% discount on what was transferred to NAMA.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: The 100% mortgages in 2005, July 2005... Were there any concerns at board about the launch of that product?