Results 2,621-2,640 of 7,082 for speaker:John Paul Phelan

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

John Paul Phelan: Finally, briefly, the FitzPatrick's tapes book by Tom Lyons and Brian Carey outlines that you had a meeting with the regulator, staff of the regulator, after the collapse of Northern Rock. Basically I want you to briefly to outline what was discussed at the meeting, and if you could, what types of issues the regulator was raising with you on behalf of Anglo, or do you remember ... do you...

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

John Paul Phelan: Okay, that's fair enough.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

John Paul Phelan: Thank you, Chairman. Good afternoon, Mr. Moran.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

John Paul Phelan: Firstly, I want to turn to Vol. 1.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

John Paul Phelan: Stop the clock, Chair.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

John Paul Phelan: Thank you. Don't start the clock for a few more minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

John Paul Phelan: Mr. Moran, good afternoon again. I wanted to ask in relation to Vol. 1, pages 29 to 32 or 33, I think. It's a document entitled "Draft Business Plan Summary - Five Years, 2009 - 2013", and it's dated November 2008. Firstly, would you have been involved in the compilation of that document and was it presented to the board? I presume it was presented to the board of the bank.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

John Paul Phelan: So, would you have had any input into it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

John Paul Phelan: There are a couple of quotes that I just want to put to you from it, in particular, one at the bottom of page 31, "Anglo Irish Bank Overview". It says, and bearing in mind this was November 2008, "We believe that Anglo Irish Bank will be the most profitable and capital generative of all publicly quoted financial institutions in Ireland over the five year period", the five-year period being...

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

John Paul Phelan: I think nationalisation was, I think it would be fair to say, directly related to the level of loss, but I know the point you are making. I want to - well, I suppose - ask you also in relation to your own time working in Anglo firstly. When again, just remind me ... I was just trying to find the date that you started working in Anglo.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

John Paul Phelan: You've worked in several different financial institutions at this stage. What was the overriding culture of Anglo Irish Bank? Was it very different than other institutions that you worked in or was it largely similar?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

John Paul Phelan: Yes. Well, I don't want to rehash the statements or the references that have been made by the first two speakers, Senator Barrett and Deputy Murphy. You would have been portrayed in the media, in some of those books that were published and other articles, as being somewhat of an enforcer for the line. I suppose, to use a political phrase, one could equate you with a chief whip kind of role...

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

John Paul Phelan: Those instances, were they off your own bat or were you acting on-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

John Paul Phelan: Okay, and were there other such similar discussions, robust discussions to use another political analogy?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

John Paul Phelan: Okay, well that's fair enough. Finally, I wish to ask you in relation to ... it is core document 2, pages 3 to 5. I'll get it myself, yes, "Exceptions to Credit Policy for Anglo Loans Transferred to NAMA". Information provided by the special liquidators on exceptions to credit policy for loans transferred to NAMA shows that the aggregate value of exceptions identified was almost €32...

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

John Paul Phelan: All right. Thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

John Paul Phelan: Thank you Chairman and good afternoon Mr. Went.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

John Paul Phelan: First of all I’d just like to ask you did you appreciate the level of risks, or do you feel that there was an appreciation of the level of risk that was attached to the level of growth within your institution that was being achieved at the time you were chief executive of the organisation?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

John Paul Phelan: Was there an appreciation, either by yourself or at board level or at senior management level of the, the risks that were attached to the level of growth that was being achieved?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

John Paul Phelan: Okay. There was another risk which subsequently transpired, which was in relation to tracker mortgages.