Results 3,881-3,900 of 7,082 for speaker:John Paul Phelan

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'm talking about subsequent to the announcement but before the legislation was enacted.

Spring Economic Statement (Resumed) (29 Apr 2015)

John Paul Phelan: I welcome yesterday's spring statement and the information contained in the speeches by the Minister for Finance and the Minister for Public Expenditure and Reform. Like Deputy McHugh, I have been a Member of the Oireachtas for almost 13 years and during my first stint as a Member of Seanad Éireann I was my party's finance spokesperson. I was struck by one of Deputy Noonan's comments...

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

John Paul Phelan: Thank you, Chair. Gentlemen, I just want to follow on from that question from Senator O'Keeffe in relation to decisions that could have been made, that Mr. Sheehy has just referenced. Was there any point in your own tenure that you expressed concerns about the concentration of lending in the property and development sectors that you can recall?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

John Paul Phelan: To go back to previous questioning about the guidelines that existed from the Financial Regulator, and, you know, on concentration limits, 200% for a sector and 250% for two related sectors. The constant answer that we've had from other witnesses, including yourselves, is that, you know, a changeover was taking place to Basel II. Did you not, or did you, have any personal qualms about the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

John Paul Phelan: Outside of the continuous ... I can't remember the exact quote but to paraphrase you, you said that "The issue of sector lending was discussed at board level a number of times". Were there any concrete actions, ever, in your time, from the board of AIB ... decisions on addressing the issue of over concentration in the construction and the property sectors?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

John Paul Phelan: But was there ... were there any concrete actions taken following that dialogue which took place over a long period of time or was it just continuous dialogue with no actions?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

John Paul Phelan: But taking that into account, how then did the concentration continue to grow in that sector right up until virtually the edge of the collapse?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

John Paul Phelan: Can I just change for a second briefly to ask you, Mr. Sheehy, in relation again to your time as chief executive, the targets that were set by the board in relation to earnings per share, did you feel at the time and in the context of where the market was, that they were sustainable?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

John Paul Phelan: Can I ask you in relation to the night of the guarantee and the quote that was put by the Chairman and Deputy O'Donnell in relation to the memo? You have more or less ... well you have said that you can't recollect using the phrase. Would it be in your view, or not, a fair statement to say that an official of the Department of Finance who obviously took that memo could have interpreted your...

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

John Paul Phelan: Can I ask, did you see Mr. Gleeson's testimony to the committee?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

John Paul Phelan: Is there anything in it that you disagree with?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

John Paul Phelan: Was there ever a time when you were working with him, when he was your chairman, that he overruled a position that you held on lending concentrations within the bank or on the general direction of the bank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

John Paul Phelan: And was there any point in your time that you yourself held the view that sectoral concentrations in construction and development were too high and you wanted to take the bank in a different direction?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

John Paul Phelan: I briefly wish to turn to Mr. Buckley. You stated, and this reference was made earlier - B1, Vol. 1, page 16. It is the Jim O'Leary quote again, which was from a minute from 13 January 2004. You said that there was a presentation to the board following on from that in October 2004. Was it customary that it would take nine months to act on a reservation expressed by a pretty senior...

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

John Paul Phelan: You can. Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

John Paul Phelan: It is a redacted page.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

John Paul Phelan: It is B1, Vol. 1, page 16.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

John Paul Phelan: The only thing that's not redacted is the reference to Jim O'Leary's comment.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

John Paul Phelan: Do you believe it was satisfactory that ... I have only four seconds left-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

John Paul Phelan: -----that it took nine months for an action to be taken on what was an issue being flagged at least at that time?