Results 10,521-10,540 of 26,053 for speaker:Kieran O'Donnell

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: And you made reference earlier that 50% of the loans that went into NAMA were outside of Ireland.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: How many of those would have been with Irish developers?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: The majority?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: And can I ask you, in your role as financial controller of Irish Nationwide Building Society, do you believe on the night of the guarantee that Irish Nationwide Building Society was solvent?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: And what do you base your assessment on that, considering that €5.4 billion of taxpayers’ money ended up, to date, going into Irish Nationwide Building Society?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: Is your basic contention, along with the two previous witnesses from Irish Nationwide Building Society, Mr. Fingleton and Mr. Walsh, that the haircut that was applied to the NAMA loans, you believe was excessive?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: And what do you believe the discount should have been? It was 61%. What do you feel would've been a reasonable discount?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: And can you just elaborate on ... were you facing a funding cliff in 2009? You had roughly about €2.3 billion, my understanding is, of debt to be rolled over in 2009.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: And effectively, I think, €1 billion of that was due in May '09. How were you set up to deal with that funding cliff?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: And did ... so do you believe ... well, first of all, two quick questions. Do you believe that Irish Nationwide Building Society needed the blanket guarantee to be covered by it? And do you believe if that guarantee wasn't there ... do you believe ... and NAMA wasn't put in place ... do you believe Irish Nationwide would be operating today?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: But you were looking for fair weather.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: You weren't, as such, set up for a ... for shocks.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: Sorry, were you set up for shocks?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: Okay. Thank you, Chairman.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: Thanks, Chairman. Welcome, Mr. Fitzgerald. In September 2008, Anglo's - and I'm referencing Vol. 2, page 33, its board's presentation and strategic options - and in September '08 Anglo's loan-to-deposit ratio was 160%. That's up from 125% in September 2007. That's roughly a year. Did you regard Anglo's increasing dependence on wholesale funding as a risk to the bank and would you've...

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: And would you have been aware of the level of ECB funding that Anglo would have been looking to source, we'll say, as its deposits base was drying up?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: And how big of a factor was ... when the contracts for difference issue arose with Mr. Quinn, were you aware of that? When did you become first aware of the contracts for difference issue between Anglo Irish Bank and Mr. Quinn?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: What I was asking really, Chairman, was I am really trying to-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: Really, what was the impact of the contracts for difference in terms of Mr. Fitzgerald's capacity to source deposits for Anglo? The question, I suppose, I was asking was, the contracts for difference in terms of Mr. Quinn and Anglo, what impact did that have on Mr. Fitzgerald's role as securing deposits for Anglo?