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Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

John Paul Phelan: The meeting you had with the Anglo official didn't discuss any of that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

John Paul Phelan: I want to ... you're cutting me short there Chairman-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

John Paul Phelan: I want to refer to... again C3b, page 40. You are already exploring, it's 13 October-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

John Paul Phelan: Yes, 13 October is the minute, you were exploring capital from the Government, but did you... there is a quote in the middle of that page that you did not want to approach the Government because it was the week, I think, before the budget. And back on page 16, there is a direct quote that the Bank of Ireland was exploring a capital injection from State at that particular juncture. This is...

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

John Paul Phelan: ----- capital injection. Well, I'm asking you to square that particular quote on page 16 with your public position at the time.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

John Paul Phelan: That quote and the-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

John Paul Phelan: ----- explore a capital injection by the State-----

Committee of Inquiry into the Banking Crisis: Institute of International and European Affairs
Governance of the ECB: Past, Present and Future
(30 Apr 2015)

John Paul Phelan: Mr. Trichet, I want to ask you was there - and specifically in relation to liquidity and the collateral rules that were in force at the time - was there any request made by, or discussions with, members of the Government or the then Governor of the Central Bank, Mr. John Hurley, or any of his representatives in 2008 prior to the guarantee for additional or emergency funding from the ECB?

Committee of Inquiry into the Banking Crisis: Institute of International and European Affairs
Governance of the ECB: Past, Present and Future
(30 Apr 2015)

John Paul Phelan: I specifically asked the question because we've had evidence from a number of witnesses to the inquiry that has alluded to the fact that there were requests for changes to the collateral rules prior to the guarantee coming into effect, and those changes happened subsequently, a little more than two weeks after the guarantee came into effect in Ireland. Those changes meant that Irish banks...

Committee of Inquiry into the Banking Crisis: Institute of International and European Affairs
Governance of the ECB: Past, Present and Future
(30 Apr 2015)

John Paul Phelan: Change the rules in general.

Committee of Inquiry into the Banking Crisis: Institute of International and European Affairs
Governance of the ECB: Past, Present and Future
(30 Apr 2015)

John Paul Phelan: Just that the rules were subsequently changed about two weeks later.

Committee of Inquiry into the Banking Crisis: Institute of International and European Affairs
Governance of the ECB: Past, Present and Future
(30 Apr 2015)

John Paul Phelan: Can I ask you in my final supplementary did you try to achieve any changes, or the ECB as well, try to achieve any changes in the decision on the guarantee before it was put into place?

Committee of Inquiry into the Banking Crisis: Institute of International and European Affairs
Governance of the ECB: Past, Present and Future
(30 Apr 2015)

John Paul Phelan: I'm talking about subsequent to the announcement but before the legislation was enacted.

Written Answers — Department of Social Protection: After-School Support Services (6 May 2015)

John Paul Phelan: 85. To ask the Minister for Social Protection regarding the after-school child care scheme, if there are proposals to include participants (details supplied) of the Tús work placement initiative to avail of this service and to include children under five years of age who have not yet attained school-going age; and if she will make a statement on the matter. [17491/15]

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

John Paul Phelan: Thank you, Chair. Good morning, Mr. Boucher. I want to at the start refer to exceptions to lending policy. There is a section in core document B2, pages 51 to 60 that deals specifically with it. Could you outline for the committee the level of agreement to exceptions to credit policy between the years 2004 and 2008 and perhaps explain why part of the solution at the time appears to have...

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

John Paul Phelan: Previous speakers have referred to transfers from Bank of Ireland to NAMA. I've done a bit of investigation since that question was asked and it turns out that 73% of connections transferred across from Bank of Ireland to NAMA were subject to some sort of exception at the time, there was 191 connections, 139 exceptions, €8.8 billion worth of €9.8 billion transferred across were...

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

John Paul Phelan: Can I turn now to core document B2, page 3 it's a document that's entitled Annual Review of Credit .. or Annual Review of Mortgage Lending Group Credit Perspective. It was produced in December 2004, around the time I think your position changed and you became a member of a credit committee of the bank. There's a quote under the graphs which says, "Mortgage lending has increased from...

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

John Paul Phelan: Can I ask you, for the benefit of those who are operating the screens the following page, page 4, there's a reference that I want to refer to. Mr. Goggin when he was here ... by the way besides, I think it was Deputy McGrath asked you the question about the extent of the guarantee ... did you see the testimony Mr. Goggin gave to the committee and was there any other matters you disagreed...

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

John Paul Phelan: You just said you had a difference -----

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

John Paul Phelan: Mr. Goggin was asked in his testimony was there a contrarian view within the bank and he ... with regard to the policies that were going on, lending policies and he said that there wasn't. I want to refer to the first paragraph on page 4 of B2, it's a document that was produced by a man named Ronan M. Murphy, and at the bottom of the first paragraph there's a quote saying, "Going forward,...

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