Results 2,081-2,100 of 4,168 for speaker:Susan O'Keeffe

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Susan O'Keeffe: So they were deteriorating. There was a trend.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Susan O'Keeffe: Okay. In point 19 yourself, you say: "We reported that the going concern assessment relied on the RBS Group's management of capital and funding on a group-wide basis". I take it this is in reference to point 14, where you say the directors confirm "it was appropriate to prepare the financial statements of the bank on a going concern basis...". So I'm taking it, is this some kind of...

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Susan O'Keeffe: Just before that you say, "We referred to the absence of up-to-date collateral valuations and the need for enhanced documentation of the impairment process." What ... How significant was the absence of the valuations and the need for enhanced documentation, and why are you drawing our attention to them?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Susan O'Keeffe: Yes. I know.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Susan O'Keeffe: But this was between you and them. This wasn't a ... this wasn't something that went into the accounts or wasn't a note to them-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Susan O'Keeffe: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Susan O'Keeffe: And finally then, at point 15, "Similar disclosures on loan impairment and going concern were provided in financial statements for earlier years." So again, there were loan ... what are you trying to tell us there?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Susan O'Keeffe: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Susan O'Keeffe: So there had been loan impairments in previous years?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Susan O'Keeffe: And again a trend of loan-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Susan O'Keeffe: Final question. A trend of loan impairment at that point when you look at then the eventual disparity between what was said in the accounts and what resulted, would that trend not have again been saying to you, "Hm, loan impairments." I mean, I'm sorry, I'm a layperson, so loan impairments, loan impairments, loan impairments.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Susan O'Keeffe: But in reality, much more than that.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Susan O'Keeffe: Thank you, Chairman.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Susan O'Keeffe: It was less than-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Susan O'Keeffe: It was less than adequate.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Susan O'Keeffe: Thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Susan O'Keeffe: It's the end of the day.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Susan O'Keeffe: Thank you, Chair. Mr. Torpey, in September 2007, 45% of Ulster Bank's group funding was provided by wholesale markets. By September 2008 60% of its funding was maturing within 1 year. I appreciate you may not have been at the bank at that ... in 2008, but you certainly are a banker so I'd be grateful for your view as to whether that kind of funding strategy was appropriate, and how would...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Susan O'Keeffe: Okay, thank you. In relation to the 100% mortgages, yesterday, Mr. McCarthy, on page 79 of his testimony says: "We were losing share of the first time buyer market". This morning, Mr. Torpey, you said: "We were grounded in the circumstances at the time", and Mr. Gallagher, you said it was "Of its time", the decision to grant them. I'm just really trying to get to the nub of this. You were...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Susan O'Keeffe: Well I know you say that, Mr. Torpey, and in fact we discussed that yesterday, but, I suppose what's puzzling is that now you are saying yourself it would have been better if we hadn't done it, and Mr. McCarthy said I accept we made a mistake. So if now you shouldn't have done it and now we've made a mistake, how is it that it was alright then to do it when in fairness that particular brand...