Results 3,961-3,980 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 understand. A report on AIB called "Poised on the Edge of Greatness" was presented by Oliver Wyman on 22 March 2007.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: And at the bottom of that particular page 27, a direct quote, again, it says "that size equals no obstacles" and that is in ... it is in reference to the elephants in the room at page 23 and the issues that were highlighted as being important for AIB to address and less important. And the bottom of less important was "size equals no obstacles". I just want to know, did you share that view...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: Even subsequently-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: At any stage in 2007, did you express concerns or have concerns-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: ----about concentrations-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: Okay, and I want to refer now to a different document again. A different core document AIB B2, Vol. 2, page 11. Again, it is a presentation to the board on credit concentrations.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: On page 11.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: Sorry, slightly different, it is ... it is referred I think briefly to by Deputy Doherty, "Stress Test Results" and you referenced it yourself-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: -----in your opening comments. The presentation to the board on 25 April 2007-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: It provides that the probability of an extreme property downfall scenario arising was 4%.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: And that even if it did, additional provisions would be up to €2 billion over three years.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: I just want to know ... do you have any recollection yourself or other members of the board of probing that particular assessment at that time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: A very expensive exercise.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: Okay. I want to move on before my time elapses to 2008. And again to the core document I am referencing is AIB B2, Vol. 1, page 17. This is the document, sorry, about credit concentrations that I mentioned earlier. Do you have it in front of you?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: AIB B2, Vol. 1, page 17.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: Page 17. Again it, it states that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: Yes, yes, that as of-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: It's at the ... it's there in front of you now.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: As of September 2008, AIB continued to be in breach of the sectoral concentration-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
John Paul Phelan: Where it was 200% ... the figure was 275%-----