Results 3,061-3,080 of 7,082 for speaker:John Paul Phelan

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

John Paul Phelan: -----"contained in the Central Bank's Licensing and Supervision Requirements and Standards for Credit Institutions."

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

John Paul Phelan: Yes, I know, but you were not ... you were not-----

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

John Paul Phelan: You were reassured by-----

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

John Paul Phelan: Okay, now I want to refer to AIB, to the core document AIB B2, Vol. 1, page 13.

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

John Paul Phelan: Vol. 1, page 13.

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

John Paul Phelan: Stamped by the AIB board on the 9 November 2006. And I want to put a direct quote-----

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

John Paul Phelan: B2, Vol. 1, page 13. The lower part there is a sub-heading "Credit Posture" it's called. B2, Vol. 1, page 13.

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

John Paul Phelan: Yes.

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

John Paul Phelan: "Snapshot at end 2006" is the original heading on the document and it's-----

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

John Paul Phelan: Page 13.

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

John Paul Phelan: Under "Credit Posture."

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

John Paul Phelan: It says, "We are at a point" and this is a direct quote, "We are at a point when we need to manage our loan book tightly-----

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

John Paul Phelan: "-----and we are rightly concerned [about the concentration] of exposure to Property and Construction." I just want to know what did you and the board ... what action did you do or take following on from that particular point?

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

John Paul Phelan: The reason I ask is that the bank's exposure, subsequent to that document from 9 November 2006, to construction and property increased.

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

John Paul Phelan: If you turn to page 17. Well, I just want to know ... I have highlighted concerns that were raised in 2000 ... as far back as 2004, this is another internal AIB document in November 2006 that says we need to look tightly at our loan book and our exposure to property-----

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

John Paul Phelan: Why was no action taken? That is-----

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

John Paul Phelan: The exposure increased.

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, my time is limited, so I want to move on-----

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

John Paul Phelan: -----to 2007. And AIB core document again, B1 volume 2 at page 27. I'll give you-----