Results 3,821-3,840 of 7,082 for speaker:John Paul Phelan

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

John Paul Phelan: The sectoral limits.

Written Answers — Department of Social Protection: After-School Support Services (6 May 2015)

John Paul Phelan: 85. To ask the Minister for Social Protection regarding the after-school child care scheme, if there are proposals to include participants (details supplied) of the Tús work placement initiative to avail of this service and to include children under five years of age who have not yet attained school-going age; and if she will make a statement on the matter. [17491/15]

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

John Paul Phelan: Thank you, Chair. Good morning, Mr. Boucher. I want to at the start refer to exceptions to lending policy. There is a section in core document B2, pages 51 to 60 that deals specifically with it. Could you outline for the committee the level of agreement to exceptions to credit policy between the years 2004 and 2008 and perhaps explain why part of the solution at the time appears to have...

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

John Paul Phelan: Previous speakers have referred to transfers from Bank of Ireland to NAMA. I've done a bit of investigation since that question was asked and it turns out that 73% of connections transferred across from Bank of Ireland to NAMA were subject to some sort of exception at the time, there was 191 connections, 139 exceptions, €8.8 billion worth of €9.8 billion transferred across were...

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

John Paul Phelan: Can I turn now to core document B2, page 3 it's a document that's entitled Annual Review of Credit .. or Annual Review of Mortgage Lending Group Credit Perspective. It was produced in December 2004, around the time I think your position changed and you became a member of a credit committee of the bank. There's a quote under the graphs which says, "Mortgage lending has increased from...

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

John Paul Phelan: Can I ask you, for the benefit of those who are operating the screens the following page, page 4, there's a reference that I want to refer to. Mr. Goggin when he was here ... by the way besides, I think it was Deputy McGrath asked you the question about the extent of the guarantee ... did you see the testimony Mr. Goggin gave to the committee and was there any other matters you disagreed...

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

John Paul Phelan: You just said you had a difference -----

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

John Paul Phelan: Mr. Goggin was asked in his testimony was there a contrarian view within the bank and he ... with regard to the policies that were going on, lending policies and he said that there wasn't. I want to refer to the first paragraph on page 4 of B2, it's a document that was produced by a man named Ronan M. Murphy, and at the bottom of the first paragraph there's a quote saying, "Going forward,...

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

John Paul Phelan: I want to, in my brief time that's left, reference mostly core document B4, pages 21 and 23. There's a continuous theme throughout a lot of the documents provided by Bank of Ireland that there was inadequate credit skills in the bank at precisely the time that credit was expanding rapidly. There's a quote on page 23 that I want to reference, near the bottom of that page, "A review of the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

John Paul Phelan: What were the disciplinary issues, specifically there were referred to on page 21 -----

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

John Paul Phelan: Thank you, Chair, and welcome Mr. McCarthy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

John Paul Phelan: I want to ask you firstly in relation to the relationship between Ulster Bank in the Republic and your parent company. Did the ability, and it was touched on by previous speakers, to borrow from your parent company, did it allow you to expand your loan book at a faster rate than if you were relying on funding from other, third party funding sources?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

John Paul Phelan: Okay. Can I ask ... changing subject slightly, I was struck by some of your answers earlier. Were you personally invested in the property market in your time in First Active, or in your time as chief executive of Ulster Bank, outside of your own residence, we'll say?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

John Paul Phelan: Significantly?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

John Paul Phelan: Okay. In Ireland or overseas?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

John Paul Phelan: Okay. Can I ask in relation to the 100% mortgages issue, which previous speakers have touched on in questioning to you and you've pointed out that other products existed in other financial institutions at the time prior to the marketing initiative that Ulster Bank undertook, a direct quote from last week, Mr. Goggin, former chief executive of Bank of Ireland, I want to specifically quote...

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

John Paul Phelan: 4%. What would it have been, sorry, originally under ... before it was marketed as a product at first-time buyers, what percentage would it have been originally?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

John Paul Phelan: So 4% was still a huge increase on where it was?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

John Paul Phelan: What would 4% have been figures-wise, do you know?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

John Paul Phelan: Okay. I want to refer briefly to the site in Dublin 4, the hotel site which has been referenced by previous speakers in their questioning. Ulster Bank was the major funder. I think it was ... the purchase cost of the site was in the region of €380 million. Where you sit or stand now, what do you think of the decision that was made in 2005 to fund that particular investment?