Results 10,641-10,660 of 36,274 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: It mentions that if the bank is unable to participate in NAMA the bank may ultimately face nationalisation. How ... was this, was this a major concern, a minor concern for the bank that if you didn't go into NAMA that you could be nationalised? And maybe if you could tell us about that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: So NAMA, in your view, and correct me if I'm wrong, saved you from being nationalised?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: Go raibh maith agat, a Chathaoirligh, agus fáilte roimh an t-Uasal McCarthy chuig an coiste fiosrúcháin. Can I begin by just asking you ... just in your opening statement on page 6 you say the Financial Regulator also set real estate caps at 250% of the capital base. You go on to say "In July 2007 the Financial Regulator agreed to a cap of 500%." Can I ask you, Mr....
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: So the regulator approved-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: From your ... that would have been in the form of a letter, a communiqué, would it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: Would you be able to furnish ... could you furnish the committee ... is it possible-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: Okay. I appreciate that. In March 2008 ... on 15 March on the RTE "Marian Finucane Show", a developer by the name of Mr. Dunne spoke on the radio show. And the contents of that interview made its way into a Sunday Tribunearticle by Justine McCarthy and I want to just refer to what was referenced there. It talked about Mr. Dunne was at the time in Thailand with his wife and young son in...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: No, that's fair enough and I won't press you on that particular issue. But forgetting ... parking Mr. Dunne's comments on RTE radio to one side, have you known, in your time as head of the bank, a situation where an approval of a loan of in excess of €100 million would be turned over in a number of days.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: And would that all happen before a letter of approval, in principle, would be given to a borrower?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: And in your time ... so am I taking from your answer in relation to the procedures they had to go through that you are unaware, during your time as head of the bank, of a loan in excess of €100 million being turned around in a matter of days.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: And, again from your experience, as head of the bank, would it be ... are you familiar with situations where bank officials would go after hours to developers' offices or homes to provide them with letters of offers?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: Do you have any knowledge of it ever happening?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: Okay. Can I ask you, in relation to the ... and I'm referring to book of evidence, UBI - B2, page 28, and this is in relation to the inspection of commercial property lending exposures which was carried out by the Financial Regulator between 4 and 14 December 2007 and its General Findings - Medium Priority. The quote is: The inspector's noted from the minutes of the RBS Group Credit...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: Okay. The same inspector's report quotes minutes of the board meeting on 26 September 2007. It's on page 27 of the same book of evidence and it reads and I quote: [The] Chair noted that the bank was not in a position where it had a full understanding of[blanked out customer's name's] liquidity. It was ... strongly emphasised that the bank needed information as to how[the customer] will...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: It's on page 27 and it's the inspector's report about how the bank was heavily exposed and uncertain at this stage whether half a billion euro was the right number to be basing their appetite on.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: Yes, but that's fine in terms of that there was a response issue. But this your ... this is your board minutes, Mr. McCarthy, and the board is actually saying that the bank wasn't in a position where it had full understanding of the customer's liquidity, that the bank needed information as to how the customer would generate cash, and this is a customer that belongs to a group that had half a...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: At another-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: Yes, final question. At another meeting on 14 May 2007 - it's on the same page as the book of evidence, it was noted and I quote "the bank lacked a real understanding of the wider group liquidity, and we were unable to explain the inherent structural risk." And again, this isn't ... this is not the same minute that I referred to earlier on. This is a number of months earlier, your bank...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: Could you satisfy this committee?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: But the question isn't ... the question is is how could your committee be recording the fact that Ulster Bank lacked a real understanding of the wider group's liquidity, were unable to explain the inherent structural risk of loans that you issued to customers?