Results 4,061-4,080 of 7,082 for speaker:John Paul Phelan

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: Okay-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: Following the Lehmans, I think you-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: -----referenced Lehmans earlier on-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: -----did you take steps as executive chairman of QP to protect your clients?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: Can I ask you, in relation to an article that appeared in the Sunday Independent in September 2014, you needn't comment on it if you don't wish to but a source was quoted and I just want to reference it correctly, a source close to Quinlan as saying: Anger is no strategy and we simply must get the likes of Derek Quinlan back to work ... Mistakes have been made but big lessons have been...

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: Can you briefly summarise, because-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: I finally, I want to try to ... I have a question. It's a general NAMA question, not a specific one and I know I don't want to get into your own details but the banks valued loans on an amortised basis as they were originators of the loans and NAMA, on the acquisition of the loans, valued them on a fair or true market value basis. As a result, the aggregate loans came to be valued at...

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: Do you believe that the valuation process influenced-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: Okay, thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: Thank you, Chairman. Good afternoon, Mr. McDonagh. Some of my questions have been asked so I'll be brief with the ones that are left. In relation to page 9 of your statement on the meeting in September ... early September which was organised by the Department of Finance that Mr. Neary inquired as to the locus standiof the NTMA for being present and contributing to those meetings, can you...

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: Okay. And he was reassured, you said, by Mr. Cardiff-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: Can you remember from that meeting or any others ... well, that meeting, in particular, or any other notable interventions from Mr. Neary with regard to ... well, I suppose, particularly with regard to the situation that was unfolding in the domestic banks?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: Do you feel that there was any action taken following that exchange?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: Okay ... I was, earlier actually in your statement you referred to the fact that you were surprised that there appeared to be only one or two people from the regulator engaged in close monitoring of each financial institution. That's the original meeting in early September '08. Did you express that surprise at the meeting or did you have any other avenue or use any other avenue to express...

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: And was that ... those meetings were the first time that you became aware of the fact that there was one or two people that were looking after----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: Okay. Can I change now to ask you, did the ECB ever express to you or to the NTMA or officials of the NTMA, or other officials to your knowledge, the need to transfer risk in order to reduce the ECB liquidity funding risk to financial institutions with deteriorating asset values, property asset values? Was that concern ever expressed from a European level or would there have been any...

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: Another question in relation to the e-mail which has been extensively mentioned already on page 27 to Mr. Beausang from yourself. Did you copy Mr. Somers routinely on responses to Mr. Beausang? Because I noticed that Mr. Whelan, Mr. Cardiff and Mr. Somers are cc'd on the e-mail, or was it because of you attached extra significance to what you were responding to that you included him in the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: Okay. Thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: I will, Chairman, thanks for pointing that out to me. Were you aware that the Secretary General in the Department of Finance was striving to quantify the cost of a soft and a hard landing guarantee?