Results 3,141-3,160 of 7,082 for speaker:John Paul Phelan
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: You repeated it a number of times in answer to different-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: The final area that I wanted to touch on is the issue of directors' compliance statements. I was interested in your comments earlier. You referenced Professor Ahearne's testimony where he spoke about the need for, you know, more firm regulation.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: You were often quoted in the media, prior to the collapse, as being one of the leading bankers who did not, to say the very least, favour firm regulation. Now I want to put a direct quote-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: -----I want to put a quote to you from The Irish Times, 1 August 2005, an article titled "Big banks oppose vetting of financial manners ... managers". On the issue of directors' compliance statements, which the financial regulatory authority had started a consultation process----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: ----first, firstly did you take part in the consultation process as chairman of AIB?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: Okay. Well I want to put this particular quote in excerpts of what you wrote in opposition to it, you reported in that article that I mentioned, 1 August 2005, The Irish Times, as stating that it would have, and I quote, " a chilling or discouraging effect on good tax compliant and law-abiding candidates who would simply prefer to maintain their privacy." I want to know do you stand over...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: Good example there, all statutory regulations and rules. The rule that was mentioned early on about the 200% concentration and 250%, you were not in compliance with that, and if, if that requirement-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: I know, I understand. But if it came out of this consultation, which you are on the record as having opposed, would that not have been a beneficial development?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: That's not-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: There's significant differences, that's the point.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: Thank you Chair. Mr. Forde, I have a few questions also. I want to refer to the evidence given earlier by Mr. Gleeson. In his testimony he was asked about AIB being caught in the wake of Anglo, and to quote him directly, he said "we tried not to be brought in the wake but in many ways we were." I just want to know, in terms of your role, as managing director of AIB from 2002 to 2009, in...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: There was no real discussion about Anglo or other specific competitors in terms of the Republic of Ireland business that you were managing director of.
- 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: In response to Deputy McGrath ... he asked about lending concentrations in particular sectors and you said that they were frequently under discussion. You also said that there wasn't decisions, I suppose, taken as to how to change that. You outlined that one of your roles specifically was to diversify. How successful were you and the Republic of Ireland operation in terms of that attempt...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: Deputy Murphy asked ... was first, I think, to ask the question about sectoral ... the levels of lending into specific sectors, and you said - it was an interesting direct quote again - that the board "wrestled" with this issue about ... can you outline to the inquiry the nature of that wrestling? And, in the sense, is it not ... I don't want to put words in your mouth or be accused of...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: But didn't take any particular ... or did they take particular action?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: Okay. That's-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: No, my time is limited, and-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: Yes. Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: I want to specifically refer to the standards of the Financial Regulator at the time. And I ... Basel II has been mentioned a lot and the transformation that was taking place within AIB and maybe other organisations at the time, but did those rules still stand or not with regard to sectoral lending, the 200% figure and the 250% for related sectors, and the fact that AIB was at least one...