Results 6,821-6,840 of 20,088 for speaker:Brian Stanley
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: We will try to get the Deputy back in later. The Comptroller and Auditor General has indicated that he would like to speak.
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: The Deputy's time is up. I have a couple of questions. Ms Sweeney mentioned due diligence that is carried out prior to engagement with on-lenders. Is the requirement for a special purpose vehicle a requirement for all on-lenders?
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: It is not a requirement.
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: Was it required in the case of Bibby? My understanding is that it was not.
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: In the case of Bibby, the witnesses were talking about €70 million. Surely the company and the people in charge of credit control would know whether a special purpose vehicle was set up or not in the case of Bibby.
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: On due diligence and tight controls, was the SBCI aware that, prior to the crash, Bibby provided finance to 465 companies, 70% of which were either dissolved or liquidated? Did the SBCI discover that as part of its due diligence?
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: Some 70% of the companies that it provided finance to were either dissolved or liquidated. That does not tally with the figures that I have. I will have to go back and check our records-----
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: I ask Ms Sweeney to come back to us on that.
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: Can I ask that before the end of the meeting Ms Sweeney clarifies whether there was a requirement for a single purpose vehicle, SPV, in respect of Bibby? The other questions I have are for Mr. Black. On the Brexit loan scheme, the take-up seems to be very low. Some €58 million in loans has been approved. I know that the interest rates are up to 4.5%, which is quite high. It is...
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: On the interest rates, what interest rate is the SBCI paying for that money?
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: I understand that.
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: What is the interest rate-----
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: Let me ask the question. What is the interest rate that that money is being accessed at?
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: Could we return for a moment to the issue of the bonus? As I understand it, there are 23 employees in the SBCI, and six of them got a bonus in the year €0.5 million was lost, in 2019. Mr. Black clarified that. I believe five or six people got the bonus. Can I ask-----
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: Plus the chief executive. Could Mr. Black clarify that the chief executive got €25,000, roughly one quarter of that money?
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: The chief executive got one quarter of it, so that left roughly three quarters of it to be split between five other individuals. Were those five individuals senior people within the company?
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: I ask Deputies wishing to speak again to raise their hands, and I will come to them in order. I ask them to stick to the two-minute time limit, because I want to bring in as many members as possible. The first member with his hand raised was Deputy Sherlock. He has two minutes.
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: I call Deputy Devlin. He has two minutes.
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: I ask Mr. Black to answer briefly.
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: Deputy Verona Murphy has two minutes.