Results 3,801-3,820 of 7,082 for speaker:John Paul Phelan

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Okay. Specifically on the matter of sectoral limits, yesterday Mr. McCarthy, in his earlier evidence, said ... stated, and I quote, that: "There was a sense that the sectoral limit was honoured more in the breach than in the observance". Subsequently when I asked him specifically about the matter, he said that Ulster Bank had never breached the 250% limit as it previously existed, and we've...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Did you, and this is a final follow-up, Chairman ... did you see the evidence, first of all, that Mr. Gleeson gave? And, specifically within Ulster Bank Ireland now, did you view those sectoral limits as being an actual limit or did you view them as he stated to the committee that he viewed them more in the context of being a guideline?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Okay. Thank you very much.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Yes, I have one for Mr. Torpey, and it follows on from an area that was touched on by Senator MacSharry. Yesterday, following questions from Deputy McGrath on the matter of loan-to-deposit ratios, Mr. McCarthy indicated that there was an error in the 2007 figures, which was subsequently corrected. I just want to ask you, Mr. Torpey, what was the error? How did it occur? How did the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Okay. I was under the impression, and you might correct me if I'm wrong, that you retain ... that you retained the position until your successor was appointed at the end of quarter 1 in 2008, as chief financial director. Is that-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: When-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: So you had no role in those figures?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Okay, thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Thank you. Gentlemen, good afternoon ... or evening I suppose now. There is only ten minutes, so I'd ask you to be as brief as you possibly can. First of all, Mr. Beggs, just from your opening statement, and I want to put a quote to you. On page 1 you spoke and I quote "From my perspective, there were limitations on Group-wide participation and decision-making in AIB arising from the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: And were there any discussions with your ... well, managers about those concerns?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Okay, thank you. Mr McLaughlin, I want to ask you about ... in the period in question up until the crisis, Bank of Ireland - and perhaps other institutions - held a number of roadshows or briefing meetings ... seminars for customers across the country. I remember them happening in my own part of the country at the time. I believe that you were frequently a speaker at those types of events....

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Were they used as a vehicle for sales is really a part of the question or not? I don't want to lead.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Okay, okay. I've only four minutes left so I want to turn to Mr. McArdle, I have more questions for you. Actually firstly, I want to turn to turn to your conclusions in your opening statements where you spoke about groupthink and you gave a very long quotation from Bill White and you spoke about a tale of seduction. Do you believe that you were seduced yourself and do you believe that you...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Okay. Can I ask you specifically then in relation to page 2 of your statement you say that "I was given freedom of speech by Ulster Bank even if some of the things I said made them uncomfortable on occasion." Did you view this as an important, I suppose, attribute to have in your role as the head economist in the bank at the time?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Can I then turn ... in relation to Professor Kelly, who has been referenced already in the discussion. Why then in 2009 did you, at that famous meeting in Kenmare, suggest to the organisers that an invitation should not have been extended to Professor Kelly for his freedom of speech on that particular occasion?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Well, we'll leave that to history. We're just examining what happened at the time because I want to put a quote. I'm a frequent watcher of political programmes and you are quoted yourself on "The Week in Politics" at that particular time with a famous quote and I am going to put it to you: "Freedom of speech is fine and we're all in favour of it but there are some times when you have to...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: 2009.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: I specifically want to ask you about this term "the greater interest" because I've heard of the national interest, I've heard of the common interest, I've never heard of the greater interest ... is ... and I wanted to really ask you, you know, did you ever temper your own comments in your time in Ulster Bank in light of the greater interest?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: Are you equating the greater interest ... are you saying it's the same as the common interest, national interest-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

John Paul Phelan: No, no, it came up.