Results 23,401-23,420 of 35,893 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Pearse Doherty: And was the account with Druids Glen just in relation to green fees or did it go further than that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: Go raibh maith agat a Chathaoirligh, agus fáilte chuig an coiste. If we look at the board minutes of July 2005, which is on book 1, page 126. The question that arises from them for me is: were you away of the extent of the tracker mortgage interest rate risk? And, in EBS, was that ever discussed at board level? This is where the minutes show that the increase on tracker mortgages...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: -----in July 2005 up to 60% three years later in 2008.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: But the minutes of the meeting in 2005 go on to say, "This will push mortgage margins down." by increasing your tracker business from 5% to 60% of mortgages. Given that it's-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: -----acknowledged at that time, what was the discussion? Is that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: But was there any discussion on risks in relation to this? There's an acknowledgement here - on the minutes - of risk but was there any discussion at board level of the risk? Was it just, "Let's increase by [I don't know how many] hundred per cent ... or from 5% to 6% over three years and this will push margins down"? Was there a ... from your recollection, did anybody say, "Well, what...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: Like, it appears to me that it's a ... quite an important decision to increase your proportion of business on trackers from 5% to 60% in a period of 36 months. In your view, can you recall whether you expressed a view? And I'm not just concerned in relation to your own personal view. Could you give us an insight, if any, as to what the board ... did they just note it and move on or was...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: Okay. Ms Tinney, you say in your statement on page 1, you say, "Mortgage applicants' declared incomes were sometimes well in excess of reality".
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: Can you explain to the committee ... what do you mean by this?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: But was it known to EBS that the declared incomes at the time were well in ... as you say, well in excess of reality?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: And when the same institution is now looking for recoupment of arrears or repossession of the homes-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: -----or voluntary surrender-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: -----by somebody who may have provided documentation that, as you say, the institution was aware that it was in excess of reality, how do you feel about that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: Okay. You say in your statement in relation to developer loans, on page 5, and I quote, you say: The rationale was that if EBS did not facilitate the "developer" another bank would and we [simply] would ... be losing out [of] business. All these proposals seemed fail-safe.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: Can you explain to the committee, were developer loans granted because they were seen as fail-safe? Was it because of competition from other banks or was there another reason or was it a combination of both factors?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Pearse Doherty: What do you mean by that? Just if you can ... what was the ... the agenda, I presume, is that they wanted money.