Results 3,861-3,880 of 7,082 for speaker:John Paul Phelan
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: Can I ask you if you believe that a change in the ECB collateral rules or the Central Bank approaching the ECB would have led...could have led to a situation where the guarantee wasn't required?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: On the same page, page 4-----.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: -----I think it is paragraph six, it relates to meetings with the Financial Regulator and the Central Bank, well actually I think you did reference them earlier, obviously this is a meeting concerning the guarantee as well. You, it stated and I want to direct... directly quote it. "Regarding ECB collateral criteria, he informed the Governor that the CBI and the Financial Regulator (FR) had...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: In the period of your tenure, could you briefly describe your relationship with the regulator?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: Can you recall any outcomes... or the main purpose of discussions held with the Central Bank, post publication of the financial stability reports from 2004 onwards?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: Okay. I'd ask you turn to page five of the same document that we are on, C3b, Susan O'Keeffe ... Senator O'Keeffe mentioned it earlier. Quote, in the middle of page 5, "No indication of Anglo's specific needs was given except that it was due to repay €1.5bn on Tuesday to a German bank". Firstly, I'd ask you do you know what the German bank was? "And may need" and this is continuing...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: Do you believe in your experience of 40 years of banking, that that German bank was likely to be engaging in lobbying of its own, with the fact that €1.5 billion was going to be owing to it on the Tuesday, and might not have been... would not have been paid on the Tuesday?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: The meeting you had with the Anglo official didn't discuss any of that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: I want to ... you're cutting me short there Chairman-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: I want to refer to... again C3b, page 40. You are already exploring, it's 13 October-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: Yes, 13 October is the minute, you were exploring capital from the Government, but did you... there is a quote in the middle of that page that you did not want to approach the Government because it was the week, I think, before the budget. And back on page 16, there is a direct quote that the Bank of Ireland was exploring a capital injection from State at that particular juncture. This is...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: ----- capital injection. Well, I'm asking you to square that particular quote on page 16 with your public position at the time.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: That quote and the-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
John Paul Phelan: ----- explore a capital injection by the State-----
- Committee of Inquiry into the Banking Crisis: Institute of International and European Affairs
Governance of the ECB: Past, Present and Future (30 Apr 2015) John Paul Phelan: Mr. Trichet, I want to ask you was there - and specifically in relation to liquidity and the collateral rules that were in force at the time - was there any request made by, or discussions with, members of the Government or the then Governor of the Central Bank, Mr. John Hurley, or any of his representatives in 2008 prior to the guarantee for additional or emergency funding from the ECB?
- Committee of Inquiry into the Banking Crisis: Institute of International and European Affairs
Governance of the ECB: Past, Present and Future (30 Apr 2015) John Paul Phelan: I specifically asked the question because we've had evidence from a number of witnesses to the inquiry that has alluded to the fact that there were requests for changes to the collateral rules prior to the guarantee coming into effect, and those changes happened subsequently, a little more than two weeks after the guarantee came into effect in Ireland. Those changes meant that Irish banks...
- Committee of Inquiry into the Banking Crisis: Institute of International and European Affairs
Governance of the ECB: Past, Present and Future (30 Apr 2015) John Paul Phelan: Change the rules in general.
- Committee of Inquiry into the Banking Crisis: Institute of International and European Affairs
Governance of the ECB: Past, Present and Future (30 Apr 2015) John Paul Phelan: Just that the rules were subsequently changed about two weeks later.
- Committee of Inquiry into the Banking Crisis: Institute of International and European Affairs
Governance of the ECB: Past, Present and Future (30 Apr 2015) John Paul Phelan: Can I ask you in my final supplementary did you try to achieve any changes, or the ECB as well, try to achieve any changes in the decision on the guarantee before it was put into place?