Results 8,921-8,940 of 26,050 for speaker:Kieran O'Donnell
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Kieran O'Donnell: Thanks, Chairman. Could I refer again, Chairman, to Vol. 1, page 57? It's a domestic standing group committee meeting of 8 July '08 which, Mr. Grimes, you attended on behalf of the Central Bank and it relates to the Quinn Group. It says: Consideration was also required given the exposure of the Irish banking system and the Irish economy to the Quinn Group and the impact on investor...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Kieran O'Donnell: And that ... do you remember that particular issue coming up at the domestic standing group and what was the context in which it was brought up? Do you remember that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Kieran O'Donnell: And was the Central Bank supportive of the unwinding process that unfolded?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Kieran O'Donnell: Would you regard it as a stability issue for the Central Bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Kieran O'Donnell: You would have seen ... there could have been a stability issue?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Kieran O'Donnell: And would you-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Kieran O'Donnell: You were consulted by the Financial Regulator in the type of process that was put in place to unwind the shares?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Kieran O'Donnell: Okay, and the ... the final question I want to ask was, we spoke earlier, and when I asked you about, you said one institution that the level of discounts the ECB was applying to loans that were being provided as security for funding was very very high. A very high hair shirt you called it at the time-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Kieran O'Donnell: Haircut. What did I, hair ... hair shirt, haircut.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Kieran O'Donnell: I presume Chairman, like everyone else, I get a bit of extra time, thank you Chairman. I think I'm too much of a gentleman, Chairman. Can I go back and say that, did it apply to any other institution that they were getting that level of discounts?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Kieran O'Donnell: The question I suppose I'm asking was, did it apply to any other financial institution in Ireland?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Kieran O'Donnell: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Kieran O'Donnell: And the final thing then, would you have been aware at the time that, we have seen correspondence here last week from the Financial Regulator to another institution where they were unable to raise any money from the ECB or any interbank funding, would you have been aware of that at the time? That you had one institution that was not able to raise money on either the interbank market or the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Kieran O'Donnell: Well I suppose the question is-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Kieran O'Donnell: The last question really is, when you had an institution like that, which could not raise money on the interbank market or the ECB, would that have set off red lights in terms of how the Central Bank would have viewed liquidity for that bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Kieran O'Donnell: Thank you, Chairman, and I welcome Ms Burke. Can I just go to ... it's ... I don't known what page. It's the second-last place of your statement where you speak about ... that "Senior banking executives [and I'm assuming seventh floor executives] had regular direct contact with senior executives of IFSRA, often without the knowledge of, not to say engagement with, supervisory staff." Now,...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Kieran O'Donnell: Were there occasions where it did?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Kieran O'Donnell: And was that a new bank, or was that an existing bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Kieran O'Donnell: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Kieran O'Donnell: Did you find it impeded and frustrated the supervision division on their day-to-day work?