Results 7,581-7,600 of 26,043 for speaker:Kieran O'Donnell
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: Let us get to the point. What should have been done? What would have prevented it?
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: From what year would we have done that?
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: No, in the Irish context.
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: So you would have moved in straight away?
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: I have a final question. There was lower tier 2 subordinated debt as part of the bank guarantee. To the ordinary person, what is lower tier 2 subordinated debt? It is one feature of our bank guarantee that was very unusual and has never really been properly explained. What is lower tier 2 subordinated debt?
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: It would make no sense.
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: Where is your mother from?
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: Mr. Nava is interested more in banking than in soccer.
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: We are more interested in speaking about soccer.
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: I welcome Mr. Nava. I wish to raise a couple of points. The first two pages of his testimony deal with the whole area of supervision, mostly in a European context. Mr. Nava said it was up to the regulators in the individual countries. In terms of risk management and effective early warning systems, how would he view the Irish system? To use football parlance again, was there a situation...
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: But Mr. Nava said that if national supervisors had used their powers to the full extent a number of major difficulties could have been prevented.
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: Obviously, Mr. Nava was making a statement. In an Irish context, what would it be? Mr. Nava is here as a representative of the European Commission, but in an Irish context, can he elaborate on that statement?
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: Correct.
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: Capital requirements.
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: What about the interaction of the ECB with the individual central banks in each country? Was there no interaction in terms of an overview from the ECB?
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: What oversight role, in the European context, would the ECB have had over individual central banks?
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: So any decisions taken by the ECB would be entirely down to its own decision-making process, and it would not in those circumstances be reliant on the decisions or advice its gets from the individual country's central bank?
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: For clarification purposes, is Mr. Nava saying that, effectively, the ECB and the Irish Central Bank operate independently of each other?
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: In the limited time available to me, can I move on to something in which the European Commission is directly involved. I do not know if Mr. Nava had the opportunity to view the contribution of Professor Black, who appeared before the committee this morning. Professor Black spoke about the impact of Basel II and said its outcome was preposterous. He said that the level of capital required...
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: With due respect, the trial and error has resulted in a situation in Ireland-----