Results 3,261-3,280 of 7,082 for speaker:John Paul Phelan

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

John Paul Phelan: -----or any other employees of Ulster Bank have subsequent meetings with Minister Lenihan or others ... officials of his Department about ... about pursuing that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Thank you, Chair, and good morning, gentlemen. A few questions for you following on from your statements. First of all actually I want to ask you both, Mr. McCarthy when he was here yesterday indicated to the committee that he had had some contact with Ulster Bank in preparing his opening statement. I'd just like to ask you maybe both to clarify the extent of any help from Ulster Bank in...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: I want to turn then to, in fact either of you can answer this particular question, it relates to events surrounding the guarantee. On the night of the 29th, we know now that there was extensive conversations involving officials at the Department of Finance on 29 September 2008, Minister for Finance, Taoiseach and representatives of AIB and Bank of Ireland. Were either or both of you aware...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Fair enough.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: You did not make any, or did you make any representation as to the nature of the guarantee? Following the announcement, the legislation took a few days to pass, was there -----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Okay. Can I ask then, Mr. Gallagher I suppose is the most relevant person to ask, in relation to the guarantee itself, Mr. McCarthy yesterday in evidence spoke about the predatory behaviour of certain institutions in or around the time of the guarantee and I want to quote him directly. He said: ...pretty quickly after the guarantee was announced there was predatory behaviour on the part of...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: All of the other institutions or-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Okay. He also said on the same point yesterday ,about consolidation in the banking sector ... and I want to quote him directly again, he said "There was some conversation subsequent to the guarantee about institutions merging and doing, you know, transactions. I think there's been some evidence to the committee about that and there were some conversations held with us as to whether we, as...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Mr. Torpey, are you aware of any loans or terms offered to borrowers which would be considered outside the normal commercial terms available at your institution in Ulster Bank Ireland made during the period of your tenure and if you could maybe clarify for the committee any of the ... or some of the reasons why those terms were granted?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Can I ask you specifically, and I know we can't ... we had a discussion about this yesterday in relation to the Dublin 4 hotels site and we are not going to get into the personal information or details of those who were involved. But, yesterday Mr. Boucher, under questioning from Deputy Higgins, said that a letter which he wrote in support of that particular project - a planning letter - in...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Mr. Gallagher, you were present at the time when you were chief executive of the corporate division. Did you have any involvement in that particular decision to fund that particular project?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: I'm going to change to the matter of 100% mortgages, and we've had a lot of evidence from previous witnesses as to the introduction of that particular product. And I want to put you particularly a quote from Mr. Brian Goggin, former chief executive of Bank of Ireland, who gave testimony to the inquiry last week on the product, and he said, and I quote: The pioneers of 100% mortgages was...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Do you have any views, Mr. Gallagher?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Okay. Can I ask, Mr. Torpey, how ... like, what is your own feeling? We've heard evidence from a number of witnesses that Ulster Bank were the instigators of marketing the 100% mortgage product for the first time, and perhaps it was available to certain categories of individuals in other institutions. But others from other institutions have come in here and firmly pointed the finger at...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Was there any ... Mr Gallagher, you expressed the view that ... you were a member of the board at the time, and you expressed some regret about the 100% mortgage ... was there any discussion at board level or any opposition, any alternative views offered when the prospect of offering 100% mortgages was first discussed and a decision was made. Did anybody raise any concerns as to the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Was there any subsequent discussion?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: That's grand, yes. I want to move to core document, gentlemen, UBI - B2, at page 16. It's a memorandum to the board for a meeting in August of 2007, authored by Mr. Torpey. It's particularly a reference to sectoral limits, and there's a quote in it that I ... under the heading "Background", and was referenced yesterday in discussions with Mr McCarthy: "In recent weeks, the Irish Financial...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: So, effectively, because of the nature of your parent organisation, Ulster Bank was ... second part of my question, Ulster Bank was in a position to lend more aggressively into the property sector in Ireland than maybe some of its competitors because of the capital position of its ... of its parent?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Okay. Specifically on the matter of sectoral limits, yesterday Mr. McCarthy, in his earlier evidence, said ... stated, and I quote, that: "There was a sense that the sectoral limit was honoured more in the breach than in the observance". Subsequently when I asked him specifically about the matter, he said that Ulster Bank had never breached the 250% limit as it previously existed, and we've...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Did you, and this is a final follow-up, Chairman ... did you see the evidence, first of all, that Mr. Gleeson gave? And, specifically within Ulster Bank Ireland now, did you view those sectoral limits as being an actual limit or did you view them as he stated to the committee that he viewed them more in the context of being a guideline?