Results 8,381-8,400 of 26,043 for speaker:Kieran O'Donnell
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
Kieran O'Donnell: Page 15.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
Kieran O'Donnell: One of the areas that at the time was Bank of Ireland were the bank that pioneered the 100% loan-to-value mortgage for home owners. And I noticed that the borrower's profile was main applicant's age profile is young with 54% aged 30 or below, 43% are from single applicants with a medium salary level of €50,000 to €60,000. Why did you go into that market because many of those...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
Kieran O'Donnell: -----and you went into this market in August '05.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
Kieran O'Donnell: It happened under your watch, Mr. Goggin. Why did you go to that new territory?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
Kieran O'Donnell: For home owners.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
Kieran O'Donnell: To whom?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
Kieran O'Donnell: But you ... as the CEO of the bank you had discretion to decide whether you went into that market or not, Mr. Goggin. You had discretion, that was your call.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
Kieran O'Donnell: Please do.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
Kieran O'Donnell: What date was that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
Kieran O'Donnell: Mid-2006.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
Kieran O'Donnell: Was that with the Financial Regulator at the time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
Kieran O'Donnell: In hindsight, should you have entered that market?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
Kieran O'Donnell: Okay. Can I move onto BOI - Vol. 1, C3b. I want to go to -----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
Kieran O'Donnell: C3b, page 20.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
Kieran O'Donnell: I want to direct you to a paragraph 3, Government Guarantee.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
Kieran O'Donnell: This is from a memo, group liquidity committee minutes, 29 September 2008, basically the day before or the night before of the guarantee. And it reads ... ''Government Guarantee'' is the heading. Yourself ... BJG, which I assume is yourself?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
Kieran O'Donnell: "The Committee prepared a draft of such a guarantee [this is the guarantee] and the list of institutions that it should cover for use by the BJG [Brian Goggin] in his meeting later that evening", which was basically with the Government and with the other banks in Government Buildings. So can I ... what document is that minute referring to, Mr. Goggin?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
Kieran O'Donnell: We've had various, we'll say people, in before us and I would just ... it kind of brings in analogies like the dog stole my copybook, that ... the worry here is that we are seeing various publications and minutes saying that there was a guarantee in place, a draft guarantee brought by the two institutions that went to the Government on the night. So we have minutes of the group liquidity...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
Kieran O'Donnell: Okay. Now, the question is, is that we have contradictory evidence here Mr. Goggin, which ultimately we need to bring ... so do you see the contradiction?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
Kieran O'Donnell: Okay, well can I just ... a couple of final questions. On the night of the guarantee, was Bank of Ireland solvent?