Results 3,621-3,640 of 7,082 for speaker:John Paul Phelan

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

John Paul Phelan: Were specific scenarios discussed, without naming any names?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

John Paul Phelan: And were the larger institutions forthcoming in regard to that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

John Paul Phelan: Thank you, Chairman. Good afternoon, again, Mr. Hurley. I want to firstly start by referencing evidence that was given to the inquiry by Mr. Brian Goggin, former chief executive officer of Bank of Ireland. In the evidence that he gave when he was here, he said that, in his opinion, and it was concerning Bank of Ireland's request to the Central Bank to have the ECB collateral rules...

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

John Paul Phelan: Specifically though, in relation to his observation, to quote again: "the Central Bank of Ireland was, for whatever reason unwilling to push the issue with the ECB". Is that your-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

John Paul Phelan: But the rules were changed two weeks, approximately, after the guarantee.

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

John Paul Phelan: Were you willing or unwilling, to use his phrase, to push the matter with the ECB?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

John Paul Phelan: Can I ask, then, were there other banks at the time, without naming them, in the Irish context that were looking for those rules to be changed?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

John Paul Phelan: Can I ask you now - it was briefly touched on before lunch - to outline for the inquiry the contacts during the period leading up to the guarantee with officials from the European Central Bank, including Mr. Trichet, on the options that were being discussed at the time? I'm not asking for the detail necessarily, but any contacts that were made.

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

John Paul Phelan: In the week, or the few days, leading up to the 29th, can you specify what happened?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

John Paul Phelan: Involving all European central banks?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

John Paul Phelan: Can you comment, then, on Mr. Trichet's remarks to the inquiry where I put this question to him and he answered me, and I want to quote him specifically, it is on page 27 of the transcript from the meeting that we had with Mr. Trichet, where he said, "no pre-negotiation, no pre-discussion on the guarantee of any kind, no call for any dialogue on that".

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

John Paul Phelan: Did the guarantee option emerge?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

John Paul Phelan: Okay. I want to just retrace my steps a little bit. When we had Mr. Boucher in previously from Bank of Ireland, I put to him a quote from Bank of Ireland minutes. It's on the record of the inquiry and I just want your reaction to that particular quote. He said on this point, the CEO, Mr. Goggin, and the CFO, "sensed a marked reluctance on the part of the CBI [Central...

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

John Paul Phelan: Okay. Can I ask then in relation to the €1.5 billion bond that fell due from Anglo to a German bank, which we don't know which bank it is, which has been discussed by several witnesses, again primarily the Bank of Ireland witnesses who have come before the inquiry? Were you aware of that liability coming due prior to the discussions that you had with Bank of Ireland?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

John Paul Phelan: Mr. Hurley, this possible default of Anglo is a critical factor in the events that happened in the next few days-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

John Paul Phelan: "Possible" I said, a "possible default"-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

John Paul Phelan: -----was a critical factor in the events that unfolded in the next few days. I really would ask you to try to be clear in your recollection as to whether you were aware, or the Central Bank was aware, that that-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

John Paul Phelan: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

John Paul Phelan: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

John Paul Phelan: I understand what you’re saying, it’s just that the impression was created in that evidence that you were unaware, or at least not adequately aware.