Results 8,481-8,500 of 26,219 for speaker:Kieran O'Donnell
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Kieran O'Donnell: Did it put, did it put Ulster Bank Ireland under financial pressure?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Kieran O'Donnell: And was that ... was that a function of the UK regulator?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Kieran O'Donnell: How big of an increase was that, how big of an increase was that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Kieran O'Donnell: So, we'll say in total, what level of billions would have flowed out in that month?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Kieran O'Donnell: Okay, and what would your deposit base have been at that time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Kieran O'Donnell: It was significant.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Kieran O'Donnell: Can I just make a point? How much, between directly and indirectly, how much of UK taxpayers' money has been put in to Ulster Bank in Ireland?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Kieran O'Donnell: But in essence, if Ulster Bank had been a stand-alone Irish bank, you would be looking at potentially up to €14 billion of Irish taxpayers' money being invested in Ulster Bank.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Kieran O'Donnell: I suppose the question I'd ask is if NAMA was an option, would Ulster Bank be in a healthier position today?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Kieran O'Donnell: But if NAMA had of been an option, you would have taken it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Kieran O'Donnell: Can I move on to the whole issue on the loans? At what level did you have to seek approval from Royal Bank of Scotland, at which level did they kick in, in terms of loan approvals in terms of Ulster Bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Kieran O'Donnell: An average, an average.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Kieran O'Donnell: So if you were typically putting a loan, of the order of the loan that's been mentioned in terms of the Ballsbridge site which was well in excess of €300 million, what type ... in a typical loan, what type of due diligence would be done? Would you give loans on the basis of land ... on the basis of land and development that would be subject to planning permission being applied for and...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Kieran O'Donnell: Yes, and, typically, in terms of the ... did you have any internal controls about the percentage of the loan book in terms of land and development that would be in any one particular loan?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Kieran O'Donnell: Well, can I make ... in 2005, what would have been your level of, we'll say, a land and property development loans issued in that particular year, roughly?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Kieran O'Donnell: Well, you were ... you were CEO over those years. Typically, what were you lending per annum?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Kieran O'Donnell: No, I'm talking purely Ulster Bank Ireland, Ulster Bank Ireland.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Kieran O'Donnell: So, typically, what? €2 billion?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Kieran O'Donnell: So you'd be talking that 15% of your entire loans issued in 2015 ... in 2005 went to the Ballsbridge site, which had ... appears to have had no planning permission in place. How would that have arisen? How would that satisfy due diligence requirements?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Kieran O'Donnell: Well, it's the process I'm more interested in. I'm not talking about ... but the process, that you have a loan here making up 15% of the entire loan book issued, the land development in 2005, a site with no planning permission. So the question I'm asking, what due diligence process would you have gone through when you're saying it would have been heavy due diligence? How would these two...