Results 9,061-9,080 of 26,053 for speaker:Kieran O'Donnell

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: Were you ever asked to do ... by the Financial Regulator, were you ever asked to do studies on strong ... the strong credit growth in the banks, the Irish banks?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: Were you asked to do studies on it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: Mr. O'Connell, what was your primary role in the Central Bank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: And how much ... and what was ... how much of an input did you have into the writing of the financial stability report?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: And would you stand over all the contents of the financial stability reports?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: And, Mr. O'Connell, going to your actual statement, right, it's ... there's quite a number of statements. You speak about, on page 2, that ... you say "In practice, it was my experience that any concerns or issues raised by staff for airing in the public arena were invariably watered down". You speak about that: I had written, in a low key way for the Bank’s Comment[s] in its...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: House price levels, right.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: Now, if you had those level of concerns and this statement and you feel so strongly about what's in this statement, why didn't you resign your position in the Central Bank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: Well, if you felt this strongly, you've given us this statement here today which is basically saying, if I read it, you use the words "watered down", you use the words "blocked", you use the words ... many other similar words throughout your statement. Now, if you felt that strongly over a reasonable period of time in the Central Bank, why didn't you consider your position and why didn't you...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: Morgan Kelly wasn't working for the Central Bank, Mr. O'Connell.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: No, but you were in a position as chief economist in the bank. You had a position of status within the bank. You were based on the seventh floor of the bank. You speak about that, you said on page 3 of the statement, you said: It is sometimes said that nobody seemed to know whether a property boom or bubble was developing. That, that's completely incorrect in my view. If I read this...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: What impact were you having in the Central Bank? From this statement here it appears that one could take an interpretation that you were having little impact.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: With due respect, Mr. O'Connell, a financial stability report came out in 2007 that said there was a soft landing. That's a total variance to what you've put in your statement to us here today and you're saying, at the same time, you stand over what's in the financial stability report, you might have an issue with the tone but not with its content. So the question is ... someone looking in...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: Were you successful?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: And did you achieve. ... were you successful in any way?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: So, therefore, in hindsight, reflecting now, should you have resigned your position?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: Why not?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: You speak in your statement about the Central Bank ... should be there effectively to be the voice of reason and to state... surely, if you were ... had these major reservations, you owed it in terms of professional integrity, that if you ... clearly, as you're saying here, that you were battering effectively against a closed door. Surely you had it on the basis of professional integrity and...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: Mr. O'Connell, you were chief economist. You weren't, effectively, someone who was ... a person who was a junior that had just joined the Central Bank. You were in the Central Bank at that stage nearly 40 years. You were probably one of the most longest -serving officials in the Central Bank. So, therefore, I'll ask it one last time. Do you feel you should have considered your position...

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: Thanks Chairman. Welcome, Mr. O'Reilly. For the purpose of an internal review, I'm going to document Vol. 3, page 40, which is effectively, it's a section 33AK document but it's ... it's in the aspect, really, of the internal view of the first crisis simulation exercise in 2005 that in a crisis scenario there is a limit in the type of information that can be provided by a principles-based...