Results 3,041-3,060 of 7,082 for speaker:John Paul Phelan
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: -----vehement, or strongly, at least, pointed out that minutes tended to reflect decisions, and I just wanted you to outline perhaps firstly why you believe Mr. O'Leary brought that issue up on 13 January 2004.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: Can I ask you then in light of the fact that minutes were made to reflect decisions, as you said, when did the review take place?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: Okay. Can you recall, at that particular time, and I suppose I'm trying to get to the point-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: -----in '04, were there concerns raised by others on the board. Did you have concerns yourself about concentration of lending in particular sectors or, indeed, by senior management of AIB?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: Okay. I want to move on to 2006, again to a board meeting and minutes referenced earlier on by Deputy Doherty, AIB B2, Vol. 1, page 6, that particular ... B2, Vol. 1, page 6.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: It was a question that Deputy Doherty had raised earlier.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: B2, Vol. 1, page 6. It concerns comments from Mr. Kevin Garvey who was the then head group-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: -----of credit review in AIB.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: That particular ... You read out actually that part of the------
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: -----minute earlier.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: Exactly.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: And I don't wish to go through the quote again, but I want to ask you, did it surprise you that the Financial Regulator did not regard a breach of its own standards as a significant issue?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: So you were not concerned, really, yourself by-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: Can I ask, further on I think on that page as well, page 6, IFSRA were informed, and this is a direct quote from Mr. Garvey as well. IFSRA were-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: IFSRA were informed by Mr. ... had been informed that a breach was likely to continue.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: And had not requested that AIB changed any of its existing practices.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: Again, did that raise any alarm bells at-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: Would a man of your background and training .... you know, standards are standards-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: I appreciate what you're saying. The initial quote, which you read yourself in response to Deputy Doherty's original question, it gives the title of what this is, "AIB was in breach of the limit"-----