Results 3,541-3,560 of 7,082 for speaker:John Paul Phelan
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
John Paul Phelan: Was there any dissent, can you recall?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
John Paul Phelan: Two more, Chairman. I want to ask you, Mr. Neary, what advice was provided to Government on liquidity and solvency for Irish financial institutions? Can you advise why it was the view of certain banks that two institutions could be allowed to fail as part of the options considered on that night in September 2008?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
John Paul Phelan: I want to refer now to a quotation that was mentioned previously by Deputy Higgins in the first part of the day when he referenced the book called The Bankersby Shane Ross and a meeting ... sorry, a social event that took place on 26 November 2008. I want to ask you in relation to that: how often outside of that would you have had social contacts with chief executives and...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
John Paul Phelan: I want to just to refer ... Michael Casey, who is a retired economist with the Central Bank, publicly commented in October 2008 on the nature of close relationships between regulators and banks and I want to quote him again directly: "The close relationships between regulators and banks, difficult to avoid in a small country, will have to be ended." How would you describe, yourself, the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
John Paul Phelan: Do you think that ... to refer to Deputy Higgins' earlier point, that this social event on 26 November 2008, a month and a bit after the guarantee ... now, you've said, with the benefit of hindsight, it shouldn't have happened but is that an acceptable excuse? At the time, what was going through your mind when you were attending that particular gathering? I'm not entering any value...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
John Paul Phelan: And I accept your apology in terms of it, with the benefit of hindsight, but I'm just saying at the time this was six weeks after the guarantee.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
John Paul Phelan: All right, thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
John Paul Phelan: Thank you, Chair, Mr. Neary. Just a couple of quick ones at the end in relation to the fall in commercial property prices that took place from about September 2007 until September 2008 of 20% in value. In light of the fact most international bank crises have been caused by over-lending into commercial property in particular, was there any analysis carried out by you or people within the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
John Paul Phelan: A 20% reduction in the previous-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
John Paul Phelan: -----12 months
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
John Paul Phelan: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
John Paul Phelan: But-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
John Paul Phelan: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
John Paul Phelan: But there was-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
John Paul Phelan: -----there was no analysis of, of that fall in commercial property values in the previous 12-month period. By the-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
John Paul Phelan: -----by the regulator-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
John Paul Phelan: -----that you're aware of?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
John Paul Phelan: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
John Paul Phelan: Thank you. In relation to the Honohan report, page 16. There's a critique, if you like, by Professor Honohan of regulation in this country and I want to put the quote to you:a regulatory approach which was and was perceived to be excessively deferential and accommodating; insufficiently challenging and not persistent enough ... This was in an environment which placed undue emphasis on fears...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
John Paul Phelan: That finding though specifically, how do you feel it applies to-----