Results 23,801-23,820 of 35,924 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Did Anglo Irish Bank not issue €5 billion of ... did Anglo Irish Bank not ... €4 billion on a covered bond backed by €6.4 billion of commercial property loans?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Did Bank of Ireland use the-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Yes, sorry.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Okay. So-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: But, Mr. Farrell, at the core of the covered bond and the amendment, was it to allow financial institutions to access more wholesale market funding than would be previously available to them? And Bank of Ireland, Depfa Bank, others, have used this Act in the past.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Can I ask you, Mr. Farrell, in October 2009 you spoke at the Kenmare economic conference where you said in relation to the banks and the crisis, "We built opacity and complexity into the banking model, which truth be told, defied understanding." That was the quote that you had. One of the objectives of the inquiry is to arrive at the understanding at the logic and rationale that underpinned...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Okay, yes, can I ask you finally-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Yes. Can I ask you finally, you told the finance committee on 2 July 2008 that the banks ... the sector was well capitalised, profitable and had strong shock absorption capacity. This was within a couple of months of many of those same banks going bust. Were you aware, as head of the IBF at that time, of issues such as that Nationwide were frozen out from the wholesale market, ECB funding...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Yes, but I am asking you a direct question and I understand that you are relying on other agencies to back up your-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: But the question I've asked you - when you made that statement about the banks being well capitalised, profitable and strong absorption capacity, were you aware of the difficulties in relation to INBS in terms of the capital markets? Were you aware in relation to Anglo Irish Bank and Nationwide's over-exposure to commercial property? Were you aware in relation to the contracts for...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Go raibh maith agat. Mr. Farrell, was the IBF involved in corporate hospitality to anybody in the Central Bank or-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: -----outside of the dinner that you organised for the bankers?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: But that's your annual dinner yourselves. In terms of like, for example, the dinner for Mr. Patterson, is that, was that the only event where-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: But what about the people within the Central Bank? Did you ever extend corporate hospitality or pay for lunches or dinners or outings?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: You had no set piece events where you could invite others-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Can I go back to questions I was asking in relation to your statement about the banks being well capitalised, profitable, strong and able to withstand the shocks that were coming? You mentioned that you weren't aware of anything that wasn't in the public domain. So, I want to go back to some of these positions. So, for example, in relation to Anglo and the contracts for difference and we...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Okay. So when did you first learn of the issue of the contracts for difference?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Okay and in relation to the overexposure of the property market, when did you become aware of that in terms of ...?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: But you do your own reports. Like, you do own-----