Results 2,221-2,240 of 4,168 for speaker:Susan O'Keeffe
- 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?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: On the ... you just spoke briefly about the guarantee, the night of the guarantee, and you said that you learned about it, I think, the next day; is that correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: So, obviously in the day leading up to the night, there were obviously all kinds of meeting, Anglo Irish, the Central Bank, all kinds of people were on the phone. Bank of Ireland and AIB obviously decided to go in and see the Government because they felt things were really, really running into the wall. How was it that Ulster Bank was just completely not in that loop?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: Did anyone ask you to buy Anglo Irish?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: And what about Irish Nationwide?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: No, okay. So, did you ever make any phone calls to the Department of Finance, or did anybody from the Department of Finance ever contact you, in and around this period of time while you were talking to the Financial Regulator? Was there any conversation?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: Not prior?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: Okay. When you talked about wanting to be the third force, as a bank, did your company spend much on marketing, or how did you ... was that something that was internal idea or did you externalise it? How did that manifest itself?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: Yes. On Vol. 1, B5, page 4, you talk about incentive schemes and you say they "included Commercial [and] Residential real estate loan volumes" and I'm just trying to establish whether or not the incentive schemes were linked to volume.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: No, I appreciate it's not one thing, but it does specify, "included Commercial/Residential real estate loan volumes" and I'm just trying to-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: Okay, okay. Just coming to the end, on page 4 of your statement, you say: "I was assured by Royal Bank of Scotland that capital and funding support would be made available to support growth. In this regard, capital and liquidity management were not considered to be a critical, local Ulster Bank priority." Do you think that this may have had, or did it have, an effect on the behaviour and...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: So you don't think that the combined facilities available to Ulster Bank of risk transfer and funding support mimicked the sort of function of cheap credit following the EMU that you yourself raised in your opening statement?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Susan O'Keeffe: Yes.