Results 361-380 of 4,168 for speaker:Susan O'Keeffe
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: So, you don't ... you're saying you don't ... you've no idea, therefore, have you read it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: Can I ask you why you haven't read it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: But it concluded in July, Mr. Walsh.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: Oh. Okay. Can I just ... I do have one more clarification. We understood from the Central Bank that it was concluded. You were disputing the €5.4 billion figure earlier on, I think with Deputy ... I can't remember who it was with-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: Yes, Deputy O'Donnell. Is that not the amount that was contributed by Government as new capital to INBS and to IBRC in respect of obligations after the write-downs? So, is that not where the figure came from?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: The cost to the taxpayer is recognised as being €5.4 billion and you disputed that.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: Chair, it may be necessary after the hearing to get a clarification from Mr. Walsh in relation to these figures because it does seem-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: It seems extraordinary that there is such a dispute between what is recognised and what-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: It really is quite-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: But there may have been other liabilities, Mr. Walsh.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: Thanks, Chair. Mr. Purcell, in the Project Harmony report, it would show that the society had a concentration of loans in the higher risk development sector, a concentration of loans in the higher loan-to-value bands, a concentration in its customer base - the top 30 commercial customers, for example, accounted for 53% of the total commercial loan book - and a concentration in sources of...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: So, in saying that you were satisfied, therefore you were saying you were not concerned. Is that correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: Sorry, concerned as in-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: -----as in being anxious-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: ----rather than-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: You felt the business was good and that the model was-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: The Ernst and Young investigation suggests that Michael Fingleton was given special powers in 1981, and again renewed in 1994 and again in 1997, that allowed him and him alone to set and alter interest rates and fees if he so pleased and to make arrangements with individuals. Is that correct to your knowledge, given the time that you were there?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: So he did have those powers. Is it at all the case that he ever used those powers in a less than practical way? In a way that was not, I am not suggesting for personal gain, I am talking about, you know, for ... to do a favour for someone, to be good to somebody?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: You are not aware. Is it also the case that the reporting structure was such that there were 12 people reporting to Mr. Fingleton as the boss, rather than a more pyramid structure where, as you go up, you have fewer people at the top? Is that correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Susan O'Keeffe: Can you clarify why a lot of savings would have been tied up in term deposits in Isle of Man accounts? Would that be normal procedure? I refer here to the fact that, at a time when the society was under a lot of pressure coming in to September 2008, savers would have had to break their terms in order to withdraw if they were concerned about the state. Why was the Isle of Man used in that way?