Results 261-280 of 4,168 for speaker:Susan O'Keeffe

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

Susan O'Keeffe: Were you aware of what, sort of, if you like, official contacts were being had, either with other banks or with Government Departments?

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

Susan O'Keeffe: I mean you, in Vol. 2, page 15, your e-mail to the Financial Regulator, dated 29 November, not surprisingly talked about the threats to liquidity and the fact that the interbank market is now effectively closed. Do you believe or do you think that the Financial Regulator, while you were giving information all the time and, as you say, you had a professional relationship and you were in...

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

Susan O'Keeffe: But you can have information. It is whether you act on it.

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

Susan O'Keeffe: Do you think that perhaps the Financial Regulator and all the associated bodies also thought that someone would come over the hill ... in a way that they were hoping something would sort itself out? Did you get that impression or is that completely not fair?

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

Susan O'Keeffe: Again, in Vol. 2, Mr. Gantly, on page 5, is the e-mail from Peter Fitzpatrick relating to the retail deposit guarantees and adding the voice to increasing the limit:My view is anecdotal at this stage and based on reports on what people are [openly] talking about in the workplace. I think that an increase in the guarantee would go a long way to restoring retail confidence right across the...

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

Susan O'Keeffe: Until post-Lehman's.

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

Susan O'Keeffe: Yes, this is post-Lehman's, of course, isn't it too?

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

Susan O'Keeffe: Again, in Vol. 2, on page 11, there's an e-mail again from Peter Fitzpatrick writing to the Financial Regulator and, specifically, he's talking here about ... and this is going back to 22 November 2007.

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

Susan O'Keeffe: He's talking about Bank of Ireland actively talking down the Irish story and:[T]o quote Schroders in the UK, who met with BOI yesterday, the CEO said that "in quarter 1, the issue for all Irish banks was one of survival". Bit alarming for BOI, but to put us all in the same boat is creating massive negative sentiment. Of course, I'm getting-----

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

Susan O'Keeffe: I beg your pardon - page 11, Vol. 2, the second paragraph of the e-mail.

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

Susan O'Keeffe: So, again, you know, it's quite ... it's a curious moment, I suppose, that your organisation was complaining to the Financial Regulator about the Bank of Ireland talking down the market and including you guys in it. Was that something that ever happened again or what ... do you remember this or do you have anything ... obviously, you've had the books prior to coming here?

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

Susan O'Keeffe: Yes.

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

Susan O'Keeffe: Okay. You're not aware of it?

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

Susan O'Keeffe: Okay.

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

Susan O'Keeffe: Indeed, in that first paragraph, you are thanking the help that you've had from the regulator in helping to get the assets across the finishing line to be included in the tender and it's ... you're talking about €2 billion drawing from the ECB tender. Was that again an indicator of the trouble ... the difficulty that you were in or would that have been normal business?

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

Susan O'Keeffe: Okay. Are you aware of whether stress testing took into account the correlation between the different types of property being financed, in particular category of loans issued, for example, tracker mortgages, and the availability of appropriate funding or was that outside your-----

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

Susan O'Keeffe: Okay. In looking at your statement, Mr. Gantly, where if you like do you see your ... I don't mean you personally but the contribution of if you like ... where did it go wrong for the bank? Because we can talk about the global impact and we can talk about Lehman's and all of those things absolutely nobody's pretending they didn't happen. But internally in the bank in that time that you...

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

Susan O'Keeffe: No, I am looking at your statement and I'm thinking I can't quite see in your statement where that is acknowledged if you like. What was it in the bank ... no, not you personally, Mr. Gantly-----

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

Susan O'Keeffe: ---- the bank and, obviously, from where you were sat in the bank as opposed to ... because, you know, you were significant within the bank.

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

Susan O'Keeffe: ILP was downgraded by Standard and Poor's in June 2008 and placed on a negative outlook, and then Moody's also put it on a negative outlook in July. Can you recall what was the reaction, if you like, among you and your colleagues after that happened? Was it what you expected or was it ... did it come out of the blue or was it fair or what did you think?