Results 3,921-3,940 of 7,082 for speaker:John Paul Phelan

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

John Paul Phelan: Okay. I want to move on to 2006, again to a board meeting and minutes referenced earlier on by Deputy Doherty, AIB B2, Vol. 1, page 6, that particular ... B2, Vol. 1, page 6.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

John Paul Phelan: It was a question that Deputy Doherty had raised earlier.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

John Paul Phelan: B2, Vol. 1, page 6. It concerns comments from Mr. Kevin Garvey who was the then head group-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

John Paul Phelan: -----of credit review in AIB.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

John Paul Phelan: That particular ... You read out actually that part of the------

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

John Paul Phelan: -----minute earlier.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

John Paul Phelan: Exactly.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

John Paul Phelan: And I don't wish to go through the quote again, but I want to ask you, did it surprise you that the Financial Regulator did not regard a breach of its own standards as a significant issue?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

John Paul Phelan: So you were not concerned, really, yourself by-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

John Paul Phelan: Can I ask, further on I think on that page as well, page 6, IFSRA were informed, and this is a direct quote from Mr. Garvey as well. IFSRA were-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

John Paul Phelan: IFSRA were informed by Mr. ... had been informed that a breach was likely to continue.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

John Paul Phelan: And had not requested that AIB changed any of its existing practices.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

John Paul Phelan: Again, did that raise any alarm bells at-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

John Paul Phelan: Would a man of your background and training .... you know, standards are standards-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

John Paul Phelan: I appreciate what you're saying. The initial quote, which you read yourself in response to Deputy Doherty's original question, it gives the title of what this is, "AIB was in breach of the limit"-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

John Paul Phelan: -----"contained in the Central Bank's Licensing and Supervision Requirements and Standards for Credit Institutions."

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

John Paul Phelan: Yes, I know, but you were not ... you were not-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

John Paul Phelan: You were reassured by-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

John Paul Phelan: Okay, now I want to refer to AIB, to the core document AIB B2, Vol. 1, page 13.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

John Paul Phelan: Vol. 1, page 13.