Results 8,861-8,880 of 26,050 for speaker:Kieran O'Donnell

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: I want to welcome Mr. Grimes. Mr. Grimes, can I take up ... you were a member of the financial, the ... a board of the regulator, correct?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: Okay. So do you believe that a financial stability report took sufficient note of the concerns of the supervision during the period, we'll say, in which, which is the critical period in '08? So you were, you were director general of the Central Bank, but you were a member of the regularity board, which, obviously, was over supervision. So do you feel that, I suppose, in particular, that...

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: Can I just before you ... can I just put it in context? And, Chairman, I'd like to quote from Vol. 1, page 97, which is the Governor of the Central Bank at the time, John Hurley's, foreword to the financial stability report, and I quote, and he's speaking about, he says: However, the Irish banks have negligible exposure [it's the third paragraph down] to the sub-prime sector, and they...

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: I suppose the question, really, and the limited time ... because I don't want to ... when you ... in your time on the board of the financial regulatory authority from May 2008 onwards, which was a critical period, was there discussions at board level with the Financial Regulator, financial regulatory board, on the solvency of the banks, the liquidity of the banks, the stress tests of the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: But in terms of the most recent developments that were occurring?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: In '08?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: And were they serious discussions?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: Would you be comfortable naming that institution, Mr. Grimes?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: Okay and in that context, what particular issues were coming to the fore in relation to that institution?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: Would be fair to say in conclusion at this point that a significant portion of the time of the financial regulatory board was taken up with discussing the circumstances of Anglo? Of this institution?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: Can I move on to an area-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: -----the round-table discussions, did you chair those?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: Which was the February------

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: In February 2008.

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: Can you explain how often and what was the round-table discussions?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: And how often?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: And you chaired that in which meeting?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: Which obviously was coming into a very critical period.

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: What did you discuss with ... what banks were present?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Kieran O'Donnell: Okay.