Results 24,281-24,300 of 35,924 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: Okay. Can I ask you just quickly on reckless lending, reckless misconduct and you've given your comments on this before, but just for the inquiry's sake, do you believe that reckless lending/misconduct should be an offence? It's not under Irish law at this point in time. By bankers.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: Okay. In relation to the stress tests that were carried out by BlackRock, have you done an analysis on the accuracy of those stress tests given that the injection of capital that went into the banks were based on a three-year scenario and the three years is up? I want to particularly pay attention to the residential mortgage losses that were expected to incur over the three-year period,...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: The banks were capitalised on the basis of €9.5 billion losses that would've been accrued-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: -----up until last year.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: In your view, what portion of those €9.5 billion have the four banks accrued so far in losses?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: They're not writing them down ... their debts-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: -----but they were capitalised-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: Even though they were capitalised four years ago for that purpose.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: Okay, can I ask you in relation to the accelerated capital sales of the Anglo bonds now that the Central Bank hold and that you're selling them above what was the minimum requirement-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: -----are all of those sales more beneficial to the Exchequer at this current point in time than it would be to hold on or just sell the minimum amount?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: Not in the future. I'm talking about now. If you hold ... if they're held by the Central Bank, there's a rotation in terms of how the money goes back-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: In the long term?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: Okay. Can I ask you-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: -----Kevin Cardiff gave evidence here that there was, kind of, a secret group of individuals that were looking at contingency planning in relation to the potential exit from the euro. Can I ask you, were you part of those discussions?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: That's fair enough.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: Can I ask you ... the Chairperson was asking ... the Chairperson was asking a question in relation to ... at the opening of the session, in relation to the ELA ... or the solvency of the State and the provision of ELA and obviously you needed to believe that the banks were solvent and a guarantee provided that satisfaction but the State had to be solvent for you to be able to be ... to ensure...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: But is that not hugely significant, because is it not, and correct me if I'm wrong here, it's not your final call in relation to issuing ELA to the banks?