Results 3,201-3,220 of 7,082 for speaker:John Paul Phelan
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
John Paul Phelan: A final, brief, last question. As somebody who has vast experience before you came to AIB, and having looked back at, I'm sure a number of the loans that were made, maybe the larger ones in the period 2003 to 2008, by the bank, do you believe that any of the lending practices engaged by AIB in that period were reckless?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: Thank you, Chair. Good afternoon, Mr. Goggin. Time is limited so-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: -----I'll be as brief as I can in the questioning and I'd ask you to be as brief as you can while answering. I want to turn you to document Vol. 1, C3b, page 3.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: Page 3. It's the first kind of page of information. It's a court minute extract, 3 October 2008.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: You're referenced at the top of the second paragraph yourself. And in it, at the bottom of that paragraph, there's a quote attributed, I assume, to you, which says that, "$20bn of Group borrowings [...] was due to mature over the next 60 to 90 days and was considered unlikely to roll over." This is about a week after the guarantee. I'd ask you maybe briefly to elaborate on that sum and...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: That's okay. Can I ask you to turn to the next page, page 4-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: -----where again I think it's a reference to yourself, where you say that eligible-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: The first paragraph.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: You explained how your own liquidity profile, which you could see, "eligible collateral exhausted in 30 days if markets remained closed." I think it's in the middle of that paragraph. And there is a further quote that I want to make at the end of that paragraph on this point the CEO, yourself, and the chief financial officer "sensed a marked reluctance on the part of the CBI [Central Bank of...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: And the issue of whether... why they were less informed or less well informed than they should have been, can you-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: What led you to believe that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: Can I ask you if you believe that a change in the ECB collateral rules or the Central Bank approaching the ECB would have led...could have led to a situation where the guarantee wasn't required?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: On the same page, page 4-----.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: -----I think it is paragraph six, it relates to meetings with the Financial Regulator and the Central Bank, well actually I think you did reference them earlier, obviously this is a meeting concerning the guarantee as well. You, it stated and I want to direct... directly quote it. "Regarding ECB collateral criteria, he informed the Governor that the CBI and the Financial Regulator (FR) had...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: In the period of your tenure, could you briefly describe your relationship with the regulator?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: Can you recall any outcomes... or the main purpose of discussions held with the Central Bank, post publication of the financial stability reports from 2004 onwards?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: Okay. I'd ask you turn to page five of the same document that we are on, C3b, Susan O'Keeffe ... Senator O'Keeffe mentioned it earlier. Quote, in the middle of page 5, "No indication of Anglo's specific needs was given except that it was due to repay €1.5bn on Tuesday to a German bank". Firstly, I'd ask you do you know what the German bank was? "And may need" and this is continuing...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: Do you believe in your experience of 40 years of banking, that that German bank was likely to be engaging in lobbying of its own, with the fact that €1.5 billion was going to be owing to it on the Tuesday, and might not have been... would not have been paid on the Tuesday?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: Okay.