Results 23,101-23,120 of 35,893 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: Okay. Do you regret the decision of not sticking to your convictions in relation to the 100% LTVs?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: Yes, okay. That's ... you've made that point very clear and thorough. What is your view on the facilities offered to borrowers such as interest-only repayment loans and increased loan-to-values ratios and what effect these had ... these facilities had on the property market at the time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: The question I'm really having is ... not that ... you know, we know right across-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: -----all the institutions there was a very low level of arrears.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: There was high employment and so on. The question is: what impact did it have on the property market? Do you accept now today with hindsight, for example 100% loan-to-value ratios and interest-only loans ... did you, do you believe that they helped create a property bubble which allowed prices to spiral - some would say - out of control?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: Are you aware of any loans or terms offered to borrowers, which would be considered outside the normal commercial terms available at your institution, made during the period of your tenure and, if so, can you clarify the reasons why this happened?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: Okay. Were there any issues with the registration of interests - with assets taken as securities - within Permanent TSB?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: Okay. Was the process of security registration and of security valuation reviewed by the external auditors?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: It was. And what was their view?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: Okay. Your institution showed an increased reliance on wholesale funding from 2005 to finance growth in the loan portfolio. Were you aware of the issues and did you regard this as a fundamental risk or not?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: KPMG were your auditors for the period 2002 to 2010, inclusive. In your opinion, could the retention of KPMG over the years affect the quality of their audit work and their independence in carrying out their duties?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: It was noted in the minute of the audit committee on 9 November 2006 that the committee was satisfied with the performance of the auditors. In hindsight would you agree with this view?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: There is no reference to it, it’s just a note that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: It was noted in the minute of the audit committee.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: It’s ... there is ... it’s not in the core books. It’s just a note, and if you take it that this is the case that there was-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: It’s not in the core book, no.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: It’s a minute in the ... of the audit committee of 9 November 2006, during your tenure, that the committee was satisfied with the performance of the auditors. In hindsight would you agree with this view?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: Yes. I am more interested in your view in-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: Can you recall any issue which may have warranted a qualified report which the auditors discussed with you but did not feature in the management letter, the final year-end report?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Pearse Doherty: Can you recall any issue which may have warranted a qualified report which the auditors discussed with you but did not feature in the management letter, which was the final year-end report?