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Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Susan O'Keeffe: Thanks, Chair. Mr. Goggin, on page 26 of core document BOI, Vol. 1, B2-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Susan O'Keeffe: It was 11 November-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Susan O'Keeffe: I've just given-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Susan O'Keeffe: Page 26, I'm just making sure the guys have it, 11 November 2003, in a paper prepared for the board - the quarterly risk review points out that: [...] a shortage of front-line credit skills is evident at Branch/BRM level and the number of Commercial Branches rated unsatisfactory has increased to 9. [...] Relationship managers continue to be under pressure due to portfolio-size, quality of...

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Susan O'Keeffe: Thank you. On BOI - B1, Vol. 1, page 13 running into page 14-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Susan O'Keeffe: A court minute extract of 7 July 2008 in which you, Mr. Goggin, assured the court that you: ...keeps in regular contact with the Financial Regulator and expressed confidence that the Regulator has contingency plans in place (which would be likely to require the Group to play a part) should another entity appear likely to fail. In subsequent discussion, Mr Goggin confirmed that he could not...

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Susan O'Keeffe: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Susan O'Keeffe: Did you express confidence, in fairness, Mr. Goggin? You expressed confidence that the regulator had a contingency plan?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Susan O'Keeffe: That was an opinion you are saying.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Susan O'Keeffe: Thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Susan O'Keeffe: But you never saw one?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Susan O'Keeffe: And you never asked for one?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Susan O'Keeffe: Did one appear on the night of the guarantee at any point in the conversation?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Susan O'Keeffe: Do you believe there was one in place?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Susan O'Keeffe: On the morning of the night of the guarantee, were you ... had you been advised by that point that Depfa and Fortis banks were in trouble?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Susan O'Keeffe: But you don't remember being informed by anybody in particular, say, by the Department of Finance or the Central Bank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Susan O'Keeffe: At that meeting with the Central Bank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Susan O'Keeffe: Okay. You ... did you meet with a representative of Anglo Irish Bank at lunchtime on the Monday?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Susan O'Keeffe: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Susan O'Keeffe: For what reason?

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