Results 3,501-3,520 of 4,928 for speaker:Peter Mathews
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Peter Mathews: Technical people in March 2010 and March 2011 got it 100% wrong on both occasions. That is my fear. Our best argument for getting capitalisation from the euro system through creditor write-down for all the banks - the dead ones and the survivor ones - is by getting the picture accurate, making the provisions right and substantiating it with what will be arriving down the tracks in the next...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Peter Mathews: I say that specifically for this reason: to get the ELA owed by the IBRC written off. This would mean the promissory notes could be torn up. In the case of AIB - and the Bank of Ireland may be too foggy-headed at the moment to articulate it - it can do it. AIB can articulate that for the triangle of banks - the two big remaining banks and Permanent TSB as a smaller add-on - to get the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Peter Mathews: You did that before you went bust.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Peter Mathews: Mr. Boucher is the servant of the board. That is simple. It is a fact and the law.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Peter Mathews: For the record, I am very disappointed that I get five minutes compared to 12 minutes for other speakers.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Peter Mathews: It is not a criticism; it is an observation. The witnesses are welcome. Yesterday, I said I had a feeling of unreality listening to contributions. It was akin to the film “The Truman Show”. Today, I feel I am in a fog. The reason is that this is the first opportunity to have an appraisal of the job of national interest directors on the board of Bank of Ireland. They...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Peter Mathews: Yes, it is €105 billion gross and €7 billion worth of provisions. Of the €105 billion, €81 billion or 74% is in mortgages, buy-to-let loans, development land loans, development loans, property investment loans and the building construction sector. To date, the loan provisions amount to €7 billion.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Peter Mathews: This is the key to the bank’s survival.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Peter Mathews: This is absurd. As a proportion of €105 billion, €7 billion is under 7%.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Peter Mathews: Certus, the loan work-out vehicle for Lloyds Bank has written off €22 billion of the €40 billion peak gross loans that the Bank of Scotland (Ireland) wrote in the period up to 2008. That is more than 50%. The bank must look long and hard into its heart, heavily diluting the last PCAR in March 2011. Reference was made in Mr. Walsh’s submission to the CBI-mandated...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Peter Mathews: They are the PCAR people. They got it wrong twice in conjunction with the CBI.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Peter Mathews: Chairman-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Peter Mathews: On a point of order-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Peter Mathews: Does Deputy Fleming wish me to help him?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Peter Mathews: Excuse me, Chairman. For clarification, are they thousands?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Peter Mathews: I ask only because it was not clear.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Peter Mathews: Okay.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Peter Mathews: Acknowledging the point about directors' duties and public interest, I would ask Mr. MacSharry to report in conversation with the Minister, after carrying out a robust exercise across the loan book, on what update provisions would be needed to meet the collectability of the debts. It should not be a case of waiting on the never never. It should be realistic and get an idea of the new...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Peter Mathews: I am asking the public interest directors to put that case, to get the information and facts calibrated and bring it to the Minister.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB (19 Dec 2012)
Peter Mathews: The need is for public interest directors to recognise that and ask for it.