Results 2,201-2,220 of 4,168 for speaker:Susan O'Keeffe

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: But, just to be clear, was Ulster Bank in breach, as per those letters notwithstanding they were sent to other people? I don't care about them, I care about you. Were you in breach according to those letters?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: Of what they said?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: So, as a banking inquiry, we should set these letters aside and not consider them as being relevant to the behaviour of Ulster Bank at that time, is that broadly what you're telling me?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: Okay, well then you will ... I think my colleague, Senator Barrett, did refer to the Dublin Mortgage Centre and the six significant issues that were mentioned there. That, correct me if I'm wrong, was an internal document created by Ulster Bank itself, not by the regulator, and it was ... discusses very serious elements that are going wrong, so I'm ... am I right in that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: Yes, so ... So that's your own guys telling you things are wrong.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: So now you're saying to me that the Financial Regulator's letters really aren't wrong but your own guys were wrong, or not, or were they wrong too, or right?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Susan O'Keeffe: But they ... in fairness, they were very serious issues. You know, non-performing debt, "clearly defined processes or controls for the handling of non-performing debt is not currently in place", "mortgages are processed to completion without sufficient consideration being given to whether all terms and conditions and documentation requirements have been satisfied". You were, after all, a...

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...