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

Kieran O'Donnell: I suggest you should have listened.

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

Kieran O'Donnell: Why didn't you do it?

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

Kieran O'Donnell: And what was your view on contrarian views like Morgan Kelly at the time? What was your view-----

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

Kieran O'Donnell: Yes. That were saying there was major problems at the time as early as 2006.

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

Kieran O'Donnell: You're on record as saying that you had issues with what Morgan Kelly was saying.

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

Kieran O'Donnell: Do you not in terms of ... at a Kilkenny Chamber of Commerce do?

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

Kieran O'Donnell: Did you not make reference to Mr. Kelly's comments?

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

Kieran O'Donnell: Okay. Can I ... two quick things. You retired in April 2008 from the Financial Regulator as chair and a function was held a number of months later on 26 November 2008 in a hostelry close to Stephen's Green-----

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

Kieran O'Donnell: -----hosted by the Irish Banking Federation

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

Kieran O'Donnell: , which was literally just over two months ... less than two months after the bank guarantee, that the Irish taxpayer put €64 billion ... ended up at €64 billion. Was it appropriate for you to take up that offer to effectively attend a function, which in Shane Ross's book, The Bankers, virtually all the big bankers who had been there on the night of the guarantee, were present?

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

Kieran O'Donnell: I appreciate that.

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

Kieran O'Donnell: Glad to see you recovered well.

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

Kieran O'Donnell: Was it appropriate for the Irish Banking Federation to be hosting a retirement do for the chair of the board that was regulating them?

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

Kieran O'Donnell: So you didn’t see an issue with it?

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

Kieran O'Donnell: In hindsight-----

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

Kieran O'Donnell: Can I just ... on a small note. The issue of golf balls being provided, hosted by the Irish financial regulatory authority, were you aware of that?

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

Kieran O'Donnell: You weren’t aware of it prior to that?

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

Kieran O'Donnell: It didn’t come up at the board level?

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

Kieran O'Donnell: Can I just go back to your statement ... do you think it was appropriate?

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

Kieran O'Donnell: It was about driving golf balls----

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