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Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Susan O'Keeffe: No.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Susan O'Keeffe: And did it involve the creation of property syndicates?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Susan O'Keeffe: Right. And was that something you had a hand in?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Susan O'Keeffe: Or you were involved with rather?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Susan O'Keeffe: And what relationship was there then? What interface was there between that part of the business and the bank part of the business or was it utterly separate?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Susan O'Keeffe: What share of-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Susan O'Keeffe: What share of the profit of Anglo Irish Bank would have been contributed by that division?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Susan O'Keeffe: Sure.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Susan O'Keeffe: And just-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Susan O'Keeffe: Small but comfortable.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Susan O'Keeffe: And, just to clarify, when you ... when you changed your job and became head of lending, Ireland, some ... that division stayed though. I take it somebody else took that job.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Susan O'Keeffe: So it didn't close down.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Susan O'Keeffe: Thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Susan O'Keeffe: Thanks Chair. Mr. Fitzgerald, why in your opinion, despite the fact that the bank appears to have undertaken regular stress testing on its liquidity position, did the bank not react sooner and more robustly to the liquidity crisis as September unfolded?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Susan O'Keeffe: And by "every option" can you give us some indication of what you mean by "every option"?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Susan O'Keeffe: Would you say that the bank had its own emergency plan to deal with the crisis or were you making plans as the crisis changed?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Susan O'Keeffe: As you said, you could see that sheer volume of outflow and it was, as you said in your statement, effectively a sustained run on the bank albeit not a public run in the way that we might understand. In what way was that run being made known to the Department of Finance, to the Central Bank to the Financial Regulator? How was that ... how was the severity of the crisis transmitted to those...

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Susan O'Keeffe: If indeed it was.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Susan O'Keeffe: So sorry, when you say "early in the crisis" do you mean January ’08 or September ’07?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Susan O'Keeffe: Okay.

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