Results 10,761-10,780 of 26,053 for speaker:Kieran O'Donnell
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: Well, I'd say Mr. O'Connor is a highly qualified man. I'd say-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: With due respect, Chairman, right, Mr. O'Connor was the only third-party person that would have looked at the balance sheets of the banks and their loans in the nine days up to - well, not quite nine, but certainly up to six or seven days up to that date-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: Prior to the guarantee being put in place, was Anglo and Irish Nationwide solvent?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: Sure that's why I'm asking the question.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: And what contingency plan did you recommend be put in place?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: So, technically, prior to the night of the guarantee, technically, was Anglo and Irish Nationwide Building Society - I suppose, Anglo in particular - was it insolvent?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: And if you'd been asked on that meeting of 25 September whether Anglo or Irish Nationwide were solvent, what response would you have given?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: So therefore, technically, prior to the guarantee it wasn't solvent, they were insolvent.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: Can I just go back to the ... by the end of 2013, €64 billion in the six financial institutions, can you comment on the capital adequacy of the Irish financial institutions, risk over-concentration in property and land and development, arrears identification, interest roll-up? And, in your PwC report, you stated that - this is core document Project Atlas 1, Vol. 1:The latest available...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: No work. And did you at all, when you had initially looked at the ... in Project Atlas 1, you reported on that on was it 27 September, am I correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: Second week of October. Did you advise the Financial Regulator and the Government that there was a need for more in-depth review of the loans of the banks?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: Yes, but you still relied on management for Atlas 2. I mean, you relied, we'll say, on the ... did ye do any, I suppose, drilling down that, we'll say ... the fact that, subsequently, we'll say, there was results done by the Financial Regulator back in 2011 ... 2010-11, where it showed that the banks needs €24 billion. The question I'm asking is: being the professionals that you are,...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: Okay, Mr. Walsh.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: Is it fair comment that the 4% potential reduction ... fall in the value of commercial property that you sought from '08 to 2011 in Project Atlas 2 grossly understated the fall in property ... commercial property as it happened over that three-year period, and if you had put in any ... what level of fall in ... in property prices would have given rise to a situation where you would not have...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: I suppose, the question I'm asking-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: It is a very simple question, Chairman.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: No, but, Chairman, I just want ... It's very simple. The 4 ... what level, if it had been 6%, 10%, ... at what level would all the banks have breached their core tier 1 requirements and you would have stated that the banks needed capital?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: At 4%?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: So ... but you didn't say that.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: Can I refer back to Vol. 1, page 5, and can I direct Mr. O'Connor and Mr. Walsh to scenario analysis, scenario 1 and scenario 2. Am I correct in saying that ... is scenario 2 the higher case scenario? Is scenario 1 or 2 the worst-case scenario? I know they don't want to use the worst-case but just-----