Results 23,741-23,760 of 35,894 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Okay. So, I pass on representations on behalf of my constituents and I usually say, "I've received this representation; I'm passing it on for your attention." I would feel that, if I call on somebody to support the representation, that I'm lobbying on behalf of my constituent or whatever sector has come to me. Do you share that view?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Okay. Were you aware that Depfa Bank had ... had approached the Department that weekend? Indeed, in Honohan's report, it talked about that the concern at the weekend of the bank guarantee was in relation to Depfa Bank's liquidity problems. Would you have been aware of-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Yes. But just from your position, as the CEO of the IBF, were you aware that one of the banks - one of your banks, that were under your ... you know, that paid fees into your body - was in serious problems in relation to liquidity and it was actually the focus of attention that weekend, the weekend of the bank guarantee, was on Depfa Bank, not on Anglo Irish Bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Did you ever find out how much Depfa Bank cost the German taxpayer?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Would it been in excess of €20 billion, €30 billion?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Sure.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Okay. And in relation to Depfa Bank, one of its board of directors was the former Governor of the Central Bank, Maurice O'Connell. Did you have any interaction with the former Governor, Maurice O'Connell, in relation to your representations of Depfa Bank being included in the guarantee?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Okay. In 2007, the IBF brought together the chief risk officers of the banks in Ireland to discuss the systemic risk. At any point, was the issue of solvency of an Irish financial institution, and the systemic impact on the banking sector, discussed or considered? And what was the eventual outcome of this meeting? And were officials of the Financial Regulator or the Central Bank or the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: I don't have a document to bring up to you. Are you aware that, in 2007, the IBF brought together chief risk officers of the banks to discuss systemic risks?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: So bird flu was what was concerning-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: -----the IBF in 2007?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: So, when you had these chief risk officers in the room from, I presume, some banks that went bust - Anglo, Nationwide, AIB, Bank of Ireland, other banks, EBS - to discuss bird flu, did you discuss ... and cyber-crime at a later stage ... did you discuss at any time issues of solvency of the banks, given that they're the chief risk officers that were sitting at the table?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: So is that a "No" to the question that solvency ... bird flu and other-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: -----systemic risks such as cyber-crime was discussed but-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: -----in terms of solvency or-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Okay. Right. When ... you mentioned that the IBF weren't aware of the bank guarantee and you woke up that morning like everybody else. So, we have uncovered in this inquiry that discussions in terms of guarantees and, indeed, legislation were being drafted as early as April 2008. So, is it the IBF's position that they were unaware of any of that process of consideration of legislation or...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: No, but the question is when did you become aware? It's not about whether-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Yes. That's the bank guarantee decision; we all woke up that morning and we knew that the ... we found out that the Government announced it, well, most of us in the country anyway, that weren't in the loop. But, the question I'm putting to you specifically is: was the IBF aware that the Department or agencies were considering a guarantee at any stage prior to the morning that you woke up to...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Okay. Okay. Was the IBF ... I presume you weren't aware that one of the ... it's suggested that one of the main banks drafted its own bank guarantee. Was the IBF aware of this? Was it consulted on the draft? Did the IBF ever receive a copy, before or after, of the bank's own version of the guarantee?