Results 25,361-25,380 of 35,894 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Pearse Doherty: Yes. Okay. In-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Pearse Doherty: Okay. In relation to the position of your bank in the run up to September ... or during September 2008, the liquidity pressures that institutions were facing, but in particular AIB ... did the liquidity pressure for AIB ease during the second part of September 2008 or did it further tighten?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Pearse Doherty: But from the 15th, liquidity starting to tighten. Is that your evidence?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Pearse Doherty: Okay. The reason I ask you that is ... and I reference Vol. 2, AIB, C3b as core documents here, and we're on page 50. In the minutes of the board meeting that was held in Baltimore, Maryland, USA, it's reported ... and you reported your interactions with the Central Bank and the Financial Regulator since 7 September. This meeting took place on the 17th, so two days after you report that...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Pearse Doherty: The point I'm making is, the minutes reflect, is that if pressures ... liquidity pressures didn't ease, you would breach liquidity ratios by the end of October.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Pearse Doherty: Yes, if they didn't ease. You have informed the committee that liquidity pressures didn't ease, indeed what happened after this meeting is they tightened. So the question I put to you is, was AIB facing a seriously liquidity problem in October or after that point?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Pearse Doherty: But you also say in these notes that this matter would be pursued at a political level. This is how serious the matter obviously was being reflected at the board meeting.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Pearse Doherty: Okay, so two weeks later you had, or within two weeks you had the meeting with the Taoiseach and the finance Minister looking for a guarantee for your bank and three others.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Pearse Doherty: Okay, the notes ... the memo that you took on 2 October, is there any reason for this committee not to judge them as true and accurate reflections of what happened on those nights?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Pearse Doherty: So you don't dispute anything in the memo.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Pearse Doherty: You may not remember or recall certain events but the memo is correct.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Pearse Doherty: So can I ... can I ask you a question in relation to the memo that you took? First of all you say, and this is the same book, page 37, "The Government submitted a form of guarantee, copy attached."
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Pearse Doherty: Do you have the copy of the form of guarantee that the Government submitted?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Pearse Doherty: What did you do with it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Pearse Doherty: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Pearse Doherty: No, it's just ... let me maybe clarify this here.The Government submitted a form of guarantee, copy attached, which in our view, while inspirational in terms, is not what we were all looking for and fell short of lack of specificity. We had drawn up an alternative which included language that was more specific. So it is very clear from this memo that you took a number of days afterwards...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Pearse Doherty: So the memo that you took, did you just keep it for yourself personally? Or did you give it to AIB or-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Pearse Doherty: Okay, so it's clear from this memo that there was a copy of the draft guarantee attached.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Pearse Doherty: And that's not ... that's just not to be found at this point in time to your knowledge?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Pearse Doherty: Okay.