Results 25,281-25,300 of 35,894 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: Okay. Mr. Boucher, I'd like to refer to book of evidence, BOI, Vol. 2, page 17, and the reference is BOI02042001. This is an extract from the minutes of the court of directors meeting on 21 October 2008 and it deals with a meeting between the Bank of Ireland executives and the Financial Regulator, at which the issue of recapitalisation was raised. The minutes say "Messrs. Goggin, O'Donovan...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: Why did Bank of Ireland make a case for recapitalisations, what I understand is three days before you signed up to the Government guarantee on 24 October?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: And when did you come to this conclusion?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: But when did you come to the conclusion that you needed Government recapitalisation?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: Okay. The minutes also record, and this is on page 18 of the same book that: The Governor then reported that he had called his counterpart in AIB for a general discussion on the market and learned that AIB [did] not propose to approach the Government for capital but would be receptive to preference capital if available. However, DG expressed a distinct lack of enthusiasm for the idea that...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: For all-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: Okay. Did Bank of Ireland share the view of AIB that, and DG which I assume is Dermot Gleeson, that not all banks deserve to survive?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: Okay. Maybe just ... on the night of the guarantee, did you believe that Anglo or Nationwide were solvent or insolvent?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: So the AIB minutes that we've discussed with AIB reflect the meeting that you had, suggested that Bank of Ireland believed that the write-down would be 30% to 50%?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: And that was informed to the regulator at that time, three weeks before the guarantee?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: Okay. My final-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: Okay, I appreciate that. My final question, Mr. Boucher, in relation to Bank of Ireland and your entry to NAMA, the board considered a paper in relation to a proposed application for Bank of Ireland to become a participant institution of NAMA. In that paper I've seen, my apologies it is not in the book of evidence, but if you can recall it, it will be helpful.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: It mentions that if the bank is unable to participate in NAMA the bank may ultimately face nationalisation. How ... was this, was this a major concern, a minor concern for the bank that if you didn't go into NAMA that you could be nationalised? And maybe if you could tell us about that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: So NAMA, in your view, and correct me if I'm wrong, saved you from being nationalised?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: Go raibh maith agat, a Chathaoirligh, agus fáilte roimh an t-Uasal McCarthy chuig an coiste fiosrúcháin. Can I begin by just asking you ... just in your opening statement on page 6 you say the Financial Regulator also set real estate caps at 250% of the capital base. You go on to say "In July 2007 the Financial Regulator agreed to a cap of 500%." Can I ask you, Mr....
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: So the regulator approved-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: From your ... that would have been in the form of a letter, a communiqué, would it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: Would you be able to furnish ... could you furnish the committee ... is it possible-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: Okay. I appreciate that. In March 2008 ... on 15 March on the RTE "Marian Finucane Show", a developer by the name of Mr. Dunne spoke on the radio show. And the contents of that interview made its way into a Sunday Tribunearticle by Justine McCarthy and I want to just refer to what was referenced there. It talked about Mr. Dunne was at the time in Thailand with his wife and young son in...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Pearse Doherty: No, that's fair enough and I won't press you on that particular issue. But forgetting ... parking Mr. Dunne's comments on RTE radio to one side, have you known, in your time as head of the bank, a situation where an approval of a loan of in excess of €100 million would be turned over in a number of days.