Results 24,801-24,820 of 35,925 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Pearse Doherty: Okay. And in relation to solvency issues prior to 30 September 2008, would you have any concerns personally in relation to solvency issues of any financial institution?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Pearse Doherty: Just explain this to us in terms of from your point of view as a regulator, what solvency means? The standard definition that people would be familiar with is liquidity ... or, liabilities exceeding assets. Is there a different interpretation of solvency when we're dealing with the Financial Regulator's office?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Pearse Doherty: But what about regulatory solvency laid down under EU law where you had to have 8% of capital?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Pearse Doherty: Okay, well, we'll come to that again. Can you explain the role of the Financial Regulator in the need to seek both sets of analysis of, one, the review loan books, and, two, capital adequacy? And, specifically, why was the analysis not performed under the remit of your office? This is the analysis that was carried out just at the time of the guarantee by Merrill Lynch and PwC.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Pearse Doherty: So this is the review that fed into the decision in terms of the guarantee?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Pearse Doherty: And how long from reporting to requesting them to do this ... what period of time are we talking about?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Pearse Doherty: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Pearse Doherty: So my question to you, Mr. Neary, is ... like ... so we ... we paid ... you paid ... or, the State paid millions of euro to these outside agencies and gave them a number of days or a number of weeks, but it's a number of days between the middle of September to the end of September, to carry out a review in relation to the loan book and to capital adequacy for information that you, as...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Pearse Doherty: Mr. Neary, one of the themes that we're trying to explore in this investigation, this banking inquiry, is the relationships between different sectors, different individuals, bankers, developers, politicians, regulator, so on and so forth. Can I ask you in terms of your own social relationship ... or did you have a social relationship with senior bankers at the time when you were either the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Pearse Doherty: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Pearse Doherty: It has been reported in the media, and I'm sure you're aware. If you're not, you can inform me that ... and it stems from the FitzPatrick tapes that yourself, Mr. FitzPatrick and Willie McAteer had a golfing outing on three occasions, dinner and drinks, but nothing in relation to banking was discussed. Is that something that you're aware of and is that an accurate reflection of those events?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Pearse Doherty: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Pearse Doherty: Okay. Is it appropriate, in your view, or not, for a prudential director to be in those social circumstances with senior bankers that you're supposedly or, not supposedly, but that you're regulating, you're responsible for regulating?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Pearse Doherty: But is it appropriate?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Pearse Doherty: Okay. Can I ask you what was the Financial Reg-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Pearse Doherty: Just following on from that, so ... just you had the golf outing, I think it's mentioned that it was golf, dinner and drinks. Is that an accurate reflection of the type of social event we're talking about?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Pearse Doherty: Okay, and ... and in that ... in that instance you didn't talk about banking at all, you didn't talk about-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Pearse Doherty: Yes, well, my own experience is different in terms of, you know, when you meet a politician or somebody interested in politics or meet a journalist, you'd ... you'd end up talking about industry and I know that with Mr. FitzPatrick is saying that the best knowledge is garnered at the 19th hole, but no discussion in terms of industry?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Pearse Doherty: And what time was that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Pearse Doherty: Yes, but you mentioned that you were at one event where you were a prudential director.