Results 23,261-23,280 of 35,893 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: But, your pointing isn't going to help anyone in terms of-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: And, the provisions that you were providing was .... at 2008, was?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Which was a total of what?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: €450 million and within, what, 16 months, 12 months it went to €5.4 billion. Would that be correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Okay. Can I ask you in relation to the Central Bank's findings? This is in relation to your role on the board. It talked about, under its own internal policies ... and it's reviewed 110,000 documents here ... it's not ... it's an intensive investigation and I presume it's based on evidence on looking at the documents. It says, "Under its own internal policies and procedures, INBS was...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: No, that's not an exceptions policy; that was actually a policy that everything above €1 million had to go to the board for approval. An exceptions policy is where it would be an exception to the credit policy of the bank. The question quite clearly-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Yes. You still haven't answered my question and it's only the first of a-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: There are four parts I need to ask you in this here so let's just focus on the question. Under your bank's own policies, exception policies had to come to the board in reports.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: The Central Bank has found-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Yes, and exceptions.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: That's not the question that I'm asking you. In terms of exception policies, it says the Central Bank has found that INBS was required to provide certain reports. It's saying that between December 2005 and September 2008, the reports in exception to commercial policies ... these were one of the findings that was not happening. It said such reports would have given the board insight. So...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: So do you reject this finding of the Central Bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Absolutely. Okay. A-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: -----quarterly review of commercial lending ... again, within the policy of the bank, the board should have received a quarterly review of commercial lending for five quarters between 2005 and 2008. The review would have given the board information, among other items, on large exposures, sectoral and geographical profile and commercial loan books. Do you accept that in the five quarters...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: The results of the annual credit risk stress testing. This would have facilitated the board in accessing INBS ability to withstand potential loan losses.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: Okay. The question wasn't that. The question was the ... again the point is that under the internal policies and procedures of Nationwide, the annual credit risk stress testing was required to be presented to the board. The question I had ... as a board member, as a senior member of the board, what were you doing to ensure that that happened, because they have found that this was not...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Pearse Doherty: The question is ... was ... do you dispute this or were you actually, do you accept this or were you actually receiving the credit risks stress testing annually, as was required?