Results 3,001-3,020 of 7,082 for speaker:John Paul Phelan
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: Thank you, Chairman. Good afternoon, Mr. McDonagh. Some of my questions have been asked so I'll be brief with the ones that are left. In relation to page 9 of your statement on the meeting in September ... early September which was organised by the Department of Finance that Mr. Neary inquired as to the locus standiof the NTMA for being present and contributing to those meetings, can you...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: Okay. And he was reassured, you said, by Mr. Cardiff-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: Can you remember from that meeting or any others ... well, that meeting, in particular, or any other notable interventions from Mr. Neary with regard to ... well, I suppose, particularly with regard to the situation that was unfolding in the domestic banks?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: Do you feel that there was any action taken following that exchange?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: Okay ... I was, earlier actually in your statement you referred to the fact that you were surprised that there appeared to be only one or two people from the regulator engaged in close monitoring of each financial institution. That's the original meeting in early September '08. Did you express that surprise at the meeting or did you have any other avenue or use any other avenue to express...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: And was that ... those meetings were the first time that you became aware of the fact that there was one or two people that were looking after----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: Okay. Can I change now to ask you, did the ECB ever express to you or to the NTMA or officials of the NTMA, or other officials to your knowledge, the need to transfer risk in order to reduce the ECB liquidity funding risk to financial institutions with deteriorating asset values, property asset values? Was that concern ever expressed from a European level or would there have been any...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: Another question in relation to the e-mail which has been extensively mentioned already on page 27 to Mr. Beausang from yourself. Did you copy Mr. Somers routinely on responses to Mr. Beausang? Because I noticed that Mr. Whelan, Mr. Cardiff and Mr. Somers are cc'd on the e-mail, or was it because of you attached extra significance to what you were responding to that you included him in the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: Okay. Thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: I will, Chairman, thanks for pointing that out to me. Were you aware that the Secretary General in the Department of Finance was striving to quantify the cost of a soft and a hard landing guarantee?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: Okay. Thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: That's been asked.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: Thank you, Chairman, you beat me to it. Can I welcome Dr. Somers. A few things that have come up from other questions that I just wanted to ask you. Actually, initially, it's been covered on and off in the media for many years that the NTMA had a somewhat, at times perhaps, uneasy relationship with the Department of Finance and with, maybe, other agencies like the Central Bank. Was that...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: I'm not trying to cut you short, but my-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: -----my ... I'm ... nearly half of my time is gone. I could listen to that all day, but I just want to put it to you: did that continue, you know, did that change when you ... by the time you left in 2009, had those relationships improved? Or was there still a lingering issue?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: Yes?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: Okay. Can I ask just briefly ... you spoke about the cost, you yourself inquired as to the cost of insuring the €40 million deposit in Anglo. Can you remember what it was, and really, for comparative terms, how much you would have expected it to be and what the difference was?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: Okay. And what would you have expected?