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Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: And very quickly, and your view on Morgan Kelly's piece?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: Which turned out to be correct. Mr. McArdle, can you give me your view? Why did you, on the 14 July '07, on page 55 of the document here, say that there would be ... remain confident of a soft landing next year?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: Why did you believe it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: Why?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: We all go over the ... sorry go on.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: I'm not surprised, yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: Can I ... final question for the three of you. What was your assessment on the night of the guarantee - and just following up from Mr. McLaughlin's - on the solvency ... the liquidity and the solvency situation for your individual banks? And what would have been your interaction with top management in your own institutions? Mr. McLaughlin.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: Well, I suppose, in the limited time, what was your view in terms of liquidity and solvency of Bank ... of Bank of Ireland?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: Liquidity, obviously?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: AIB, Mr. Beggs? Both liquidity and solvency?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: You had no issue with solvency with AIB?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: Mr. McArdle?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: And, finally, the modelling that ye had in terms of forecasting, where were they deficient and what would you have done differently if you were back there again, Mr. McLaughlin, just very quickly?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: Mr. Beggs?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: Now, Mr. McArdle. Chairman, I want Mr. McArdle to-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: I was waiting, Chairman.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: Just a very quick point, Mr. McLaughlin. You made reference to about commercial ... you know it was mainly commercial property brought about the major losses. Would commercial property include land that was owned for residential? The point really I suppose-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: And I think my ... just a point of correction like ... some of those landbanks were residential landbanks, that's basically the point-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: So it's not purely commercial, in the strictest sense but they-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Kieran O'Donnell: They were still looking at building houses on that patch of land.

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