Results 3,021-3,040 of 7,082 for speaker:John Paul Phelan
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: Okay. You were offering ... the legal advice which you referenced earlier you are going to be providing, I think ... did you say that to the-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: I just, well, I was asking ... I was going to ask who provided the legal advice?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: Okay, that's fair enough. And I think there's going be some tick tacking as to whether we can have it, okay. I want to ask, in relation to your opening statement, you said in it that you, and I'm quoting directly, you became "somewhat perplexed at the very rapid growth in credit and on one occasion spent some time going through the Central Bank statistics to try to understand it". Can you...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: I'm not trying to cut you short but I have a few more that I just want to get to. But, in terms of that concern, did you ... or, was there any vehicle for you to raise that concern?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: Okay. Thanks for your candid answer. Again, you said something similar in your statement about the levels of house building and construction and that they were unsustainable by any measure. Again, did you have an opportunity or any mechanism for raising those concerns?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: Just a little rewind. Which Secretary General did you raise the concern on credit?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: Okay, thank you. And finally, can you advise the NTMA investment mandate that was held, and what the NTMA were authorised to invest in? This is a very general question now that I've been given ... I suppose, what they were authorised to invest in by amount, country, currency, tenor, asset, product and counter-party rating. Now, I would suspect it's one of the prepared ones-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: No, I suppose in general. That's actually a general ... it's a general question.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: And the pension fund mentioned, was-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: One little brief supplementary, following on from Deputy McGrath's question earlier on about our exchange in the Royal Hospital and the €60 billion that you were sent to find.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: I was under the impression that the establishment of NAMA was of the order of half that €32 billion in NAMA bonds as collateral. Where does the €60 billion? I am just trying to get that figure.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
John Paul Phelan: Best or worst-case scenario.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
John Paul Phelan: Thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
John Paul Phelan: One more and then the wrap-up.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
John Paul Phelan: Thank you, Chair. Briefly at the start, Mr. Cowen, and you're welcome back, I want to refer to scenario 3 again on that document which we just had up, which is Vol. 4 of your core documents, page 16 ... the bottom of page 16. You have - today and the last day - outlined that you placed, I suppose, trust in the position of the Financial Regulator. And this is a document that was prepared...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
John Paul Phelan: I understand that.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
John Paul Phelan: Do you accept - and I'm not trying to ... but my time is running out-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
John Paul Phelan: -----that there was a warning-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
John Paul Phelan: I have a lot of questions that I want to get through ... that there was a warning there from the Department at ... in January 2008 while you were still the Minister for Finance to question, at least, the advice you were getting from the regulator. I understand the argument you're making that these people were in positions of responsibility and you had faith in them-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
John Paul Phelan: Okay-----