Results 24,881-24,900 of 35,925 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Pearse Doherty: Well in the ... not just in the-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Pearse Doherty: The financial stability reports ... or even the year before, was there meetings, was there interactions?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Pearse Doherty: The question, sorry, Mr. Grimes, the question specifically is in relation to advice sought by the Department of Finance in relation to the financial stability of the banking sector or individual institutions so it's meetings in that regard that I'm interested in.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Pearse Doherty: Okay. And outside of the DSG, were there meetings with the Department of Finance or did the Department of Finance seek advice from the Central Bank in relation to the stability of the banking sector or in any individual banking ... bank in the State?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Pearse Doherty: Okay, okay. Can I ask you in ... you've mentioned ... in your opening statement, on page 4, you mention the problems surrounding ELA. If I quote from your statement it says one of the ... one of the ... with the use of ELA, one of the issues with the "use of ELA is that its use required a floating charge on banks' assets that needed to be registered at the Companies Office. New legal...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Pearse Doherty: Okay. You also mention, in relation to ECB liquidity, that it reached €40 billion at the period of September 2008. Can you give us a breakdown of the ECB liquidity to Irish domestic banks and for international banks of that €40 billion?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Pearse Doherty: So was there any liquidity extended to the non-domestic banks - the IFSC banks?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Pearse Doherty: So when the ECB references the percentage of the entire liquidity that was available to ... at the Irish banking system as a percentage of the entire ECB that was available-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Pearse Doherty: And are you saying that 80% of that went to banks that were in the IFSC or non-domestic-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Pearse Doherty: -----on average?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Pearse Doherty: Okay. Did the ECB ever express any concerns, or not, with the quality of assets that were being used as collateral for ECB liquidity purposes in the pre-guarantee period?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Pearse Doherty: Okay, but it wasn't specific to Ireland?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Pearse Doherty: Okay. In your opening statement you say "The possible nationalisation of Anglo raised issues, both in terms of lack of an immediate legislative provision (although it could perhaps have been ready by the following weekend)". So, that's your evidence. Are you aware that that is contradicted by what Governor Hurley has said ... that the legislation was available and what's your view in...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Pearse Doherty: Okay. I want to go to page 45 of Vol. 2 of the evidence book. It's the minute of the meeting on 25 September 2008, which was referred to earlier on. And I just want to focus in on the bit where David, and I'm quoting, "D[avid] Doyle noted that Government would need a good idea of the potential loss exposure ... within Anglo and INBS - on some assumptions INBS could be 2bn after capital and...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Pearse Doherty: It's a public document. In relation to this here ... just in relation to the accuracy of that part of the minute, do you agree with it or do you disagree with it and can you outline to the committee, if you disagree with it, what part of it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Pearse Doherty: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Pearse Doherty: Okay. So that's the point. I appreciate that it's not your minute. It is the minute of the meeting that you attended, and my question is, in your recollection, does that minute reflect what happened or what was said and, if not, what in your view was said that would best reflect what should be in that minute?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Pearse Doherty: Mr. Grimes, you mentioned earlier on that there was an issue, I think, or words to that effect, in relation to ... in relation to after capital or before capital, and that has been suggested to the committee before. Is that your view, or is it not your view, or do you have any view in relation to this?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Pearse Doherty: A Chathaoirligh ... fáilte. Can I ask you first of all who was responsible for creating and updating the stress tests scenarios and why weren't they effective in predicting the banks' failures?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Pearse Doherty: So you would have had no role in relation to the stress tests during your period as head of-----?