Results 24,621-24,640 of 35,894 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Pearse Doherty: Okay, what were the systemic risks that you were aware of?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Pearse Doherty: No, the ... the question I ... I wanted to, first of all, find out what you thought was the problem at the time. What did you think was not just a risk but a systemic risk.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Pearse Doherty: In my view, big difference ... in my view, so it's ... it's just ... so in your view the systemic risk was ... was what?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Pearse Doherty: Okay. I'm gonna ... pressed for time so want to just move to this ... this area here. Mr. Patterson, in 2006, Fitch placed the Irish banks on a lower rated category for macro-potential risks. We know, from the evidence that was presented to Liam O'Reilly, that this was brought before the financial stability co-ordination committee in 2006. The reference - for the secretariat - is in core...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Pearse Doherty: I'll ... I'll try and sum up in this ... in this questions here. See, you were the chairperson, so you were the ... one of the main people, one of the most important persons within the entire organisation. You ... you say in your statement that if you know ... if you knew then what you knew now, you would have acted differently. My question is: what do you know now that you didn't know...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Pearse Doherty: But what do you mean by "the extent of it"? Sorry, just, what do you mean, in specific terms ... what do you mean by "extent"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Pearse Doherty: Sorry, again, what do you mean by "how close to the wind the banks were sailing"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Pearse Doherty: The risks in what? Like-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Pearse Doherty: But, would the size and nature of their loan book not be reported to you, as a board, for any of the years that you were chairperson of that board?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Pearse Doherty: Yes, but you knew the size and scale of the----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Pearse Doherty: Okay. So, you ... you knew now what you knew then in relation to the size and scale. I'm really trying to go down to the point of, you know, this statement that you make, if you knew then what you knew now things would be different. I ... I'm struggling to find out what you didn't know then that you now know now.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Pearse Doherty: Go raibh maith agat. A couple of quick questions here. Can I ask you did the board ever investigate the claims made that an internal auditor of AIB had reported to Liam O'Reilly the foreign exchange rip-off that was happening at the time, which was the bank had to pay back over €30 million? Did it ever investigate those claims?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Pearse Doherty: In any way. Did you discuss it, did you discuss the claims? Not the event itself which, the investigation which happened in 2004, the claims that Liam O'Reilly was informed of these matters in 2001 and 2002.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Pearse Doherty: That's fine. In relation to your role on ... as chairperson of the board, can you tell us, at the peak time how many, if any, other boards did you serve on, along with being chairperson of the board of-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Pearse Doherty: No, well ... the time where you were most busiest on boards if you had-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Pearse Doherty: Two others, okay. And in relation to ... was the board aware of the concerns and the problems around IAS 39 in terms of auditing?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Pearse Doherty: IAS 39 is-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Pearse Doherty: There's been a lot of discussion in relation to it, it's in relation to the fact that the auditors aren't allowed to account for future losses.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Pearse Doherty: Was the board aware of the shortcomings of this issue?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Pearse Doherty: Not at the time, in your tenure, is that what you're saying?