Results 8,461-8,480 of 26,043 for speaker:Kieran O'Donnell

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

Kieran O'Donnell: Yes.

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

Kieran O'Donnell: Can I just ... in the limited time that I have, Project Atlas provides a very, very stark statistic that when it was ... they looked at the loan book in '08, Bank of Ireland had €5.4 billion of ... related to land bank ... land bank loans alone. And of that €5.4 billion, €3.2 billion, which is 60% of that loan book had no planning ... of that land. So you had...

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

Kieran O'Donnell: In terms of value, right ... what we were told it was €5.4 million there was €13.1 billion relating to land and development ... €5.4 billion to land bank. The land bank can be analysed as follows: €0.4 billion, unzoned lands, €2.8 billion, zoned lands with no planning permission ... so that's taken from Project Altas. The question I suppose I am asking...

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

Kieran O'Donnell: It was zoned but no planning.

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

Kieran O'Donnell: So you were willing to give out money without the land ... because you could have looked for it to be subject to planning permission being granted. Why would you give money without planning permission being granted on land when you could have made it a condition of the providing the loan that it had to be subject to planning?

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

Kieran O'Donnell: But clearly that's not the case here.

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

Kieran O'Donnell: That was a mistake.

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

Kieran O'Donnell: Can I move on? In terms of the model ... the remuneration scheme that was in place. In 2007-2008 the bonus scheme that was in place for the top executives, 75% of the bonus related to earnings per share. And, Mr. Boucher, in the year in which you took over as ... you became a director ... for 31 March 2007 accounts, you made a bonus of two and a half times your basic salary, which was ......

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

Kieran O'Donnell: Still a significant amount of money, Mr. Boucher.

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

Kieran O'Donnell: The question is ... the model that was put in place in terms of the bonus scheme you had ... was property lending a quick fix for earnings per share growth in the bank?

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

Kieran O'Donnell: A very quick question Mr. Boucher -----

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

Kieran O'Donnell: Just to follow up on that, Mr. McCarthy ... and welcome. In terms of your interaction with the Minister for Finance ... who did you actually meet at Government level in terms of looking to be ... to form part of the guarantee ... to join the guarantee?

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

Kieran O'Donnell: Mr. Neary.

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

Kieran O'Donnell: Fine -----

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

Kieran O'Donnell: How often did you meet?

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

Kieran O'Donnell: And that was over the month of October.

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

Kieran O'Donnell: What was the issue that gave rise ... that you couldn't join the guarantee?

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

Kieran O'Donnell: And did the UK regulator ... was of the opinion that was not acceptable, is that correct?

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

Kieran O'Donnell: In October 2008.

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

Kieran O'Donnell: And was there an outflow ... did the guarantee being put in place in Ireland, did it have an impact on your deposit base in Ulster Bank in Ireland?