Results 1,961-1,980 of 4,168 for speaker:Susan O'Keeffe
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: You talked earlier on about the 100% mortgages and we heard testimony that Mr. Goggin said he had a visit from the Financial Regulator. This was in his own testimony, page 19, "I had a visit from the Financial Regulator who himself was expressing concern about the development of 100% mortgages in the marketplace", and Mr. Goggin remarked that it was odd because the Financial Regulator came...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: Well he says, "I had a visit from the Financial Regulator who himself was expressing concern about the development of 100% mortgages in the marketplace".
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: No, I'm not asking you to. I'm saying that he's observing that the Financial Regulator was concerned. You're saying that that didn't happen for you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: Do you believe, Mr. McCarthy, as the chief executive officer, that you were satisfied with the level of financial information you received? I'm talking here about the board. Did the board have the capacity, did it have sufficient information to carry out its duty of oversight effectively, do you believe?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: Okay. You've nothing to add to that, no?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: Just to clarify, in relation to Professor Brennan having that conversation outside the room, that's Vol. 1, B1, page 6, where she had raised her concerns again and my colleague has raised this with you - it was agreed that Mr. McDonnell would meet with her outside the meeting to address her concerns. Was that something that routinely happened? You know, why would she be asked to leave the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: But not minuted that meeting ... those meetings wouldn't have been------
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: Is that good practice at a board level of a publicly quoted company to have ... sort of ... outside meeting ... I'm asking, I don't know the answer?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: Okay, thank you. On Vol. 1, B2, pages 9 and 10, there was the group risk credit policy and strategy committee minutes of the meeting held on 28 July 2005 and this was a meeting, Mr. McCarthy, to discuss, I think, the whole first ... the whole ... the 100% mortgage introduction and, at the end, there is a decision and it says "JM summed up by confirming that all parties were in agreement to...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: -----"BL stated that the decision should be recorded as ratified as the product had already been released". Now I understand from that the product had already been released by First Active and this was now Ulster Bank having a look at the same product, is that correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: Is it the case the board of Ulster Bank would have been likely, or not the board, the group risk credit policy and strategy committee, would they have been likely to overturn a product that was already on the market with First Active, a company that you owned?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: So this was a kind of a ... was this closer to a rubber-stamping than a ....
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: I mean, given that 100% mortgages were literally handing somebody, you know,carte blancheto buy a house, what was going through Ulster Bank's mind at that time that they thought this could possibly be a good idea, given that you had, I imagine, in the bank quite a number of people, possibly including yourself, who had been bankers for a very long time and had always known that there was a...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: So, basically, you felt under pressure competitively and wanted to keep your market share or increase your market share at that time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: You were ... you're members ... I don't know if ... assuming you still are of IBEC, the Irish Business & Employers' Confederation?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: You were at the time----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: In 2008 and this is the one I have the note for, you paid €194,000 in annual fees to IBEC, of course along with other banks, but again you're Ulster Bank. What did you get for your €194,000?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: Thank you. In Vol. 1, B2, page 3, it says that, "Additional risk transfers [are] required by [the] end of April", and a memorandum to the board dated August 2007, also in that book on page 16, notes that risk transfers had amounted to €4.5 billion, exclusive of some "notes which are transacted for Large Exposure risk diversification purposes". So, I'm wondering if you can explain to...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: Did that mean that Ulster Bank in Ireland, that your regulatory returns were an inaccurate picture of the bank's true exposure to the property market in the Republic of Ireland, you know?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: And approved that you could do that?