Results 4,041-4,060 of 7,082 for speaker:John Paul Phelan

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

John Paul Phelan: Did you not have any concerns yourself, though, as the popular .. or the possible exposure of your operation, which was under your management in the Republic of Ireland? That's ... I'm asking about your response?

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

John Paul Phelan: And I understand, and the phrase you used earlier-----

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

John Paul Phelan: ----- in response to Deputy O'Donnell was, "At no point had I a premonition." That's fair enough, but I'm asking about your role as ... of oversight.

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

John Paul Phelan: Did you use-----

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

John Paul Phelan: -----your position with people more senior than yourself in the organisation to raise those concerns?

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

John Paul Phelan: I've just one last, very brief question. Dr. John FitzGerald, in evidence to the committee, a number of weeks ago, expressed the view that a senior official within AIB had raised with him, at the end of October 2005, concerns with regards to stress tests and exposure to the property sector. That has since been disputed by the said senior official. Were you aware, at that time or...

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

John Paul Phelan: I had a series of questions about the night of the guarantee but I think most of them have been asked. Just a brief recap on where the Chairman finished Mr. McDonagh. In relation to your own scepticism that you expressed about the two named institutions-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

John Paul Phelan: I am not going to name or get into any specifics about the two institutions. It's about his scepticism more than the institution. Just to be clear, were there any formal or informal opportunities for you to ... with colleagues in the NTMA at the time, to express those scepticisms? Or was this just something that you held internally yourself or was there an opportunity?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

John Paul Phelan: Or expressed internally within the NTMA?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

John Paul Phelan: Mr. Daly, the issue was touched on briefly earlier with regard to personal guarantees and cross-lending where individuals or groups gave personal guarantees to several different institutions. Do you have any breakdown as to the extent of that practice within the Irish banks in the period, obviously prior to the establishment of NAMA?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

John Paul Phelan: Can I ask you both, in relation to the establishment of NAMA itself, how did you both become involved? Essentially who recruited you to the positions that you now occupy? And, furthermore, in relation to the construct of NAMA, did you both have an input into, not, obviously, specifically the legislation, but the way that the institution was constructed?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

John Paul Phelan: Who asked you?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

John Paul Phelan: Mr. McDonagh, can you answer that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

John Paul Phelan: And would there be ... was there any indication as to why you were ... you were singled out for that or did you ... did the Minister, in his conversation, indicate?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

John Paul Phelan: Can I ask you then in relation to when you had taken up that interim appointment and subsequently when NAMA was being discussed in the Oireachtas in 2009, the late Minister Lenihan indicated that one of the chief reasons for the establishment of NAMA was that it would lead to significant increase in lending by the banks.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

John Paul Phelan: Yes, I just want to ask Mr. McDonagh, had you given advice to that effect and, if so, does it exist or ...

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

John Paul Phelan: Okay. I specifically want to refer, Chairman, to an article in February 2010, 8 February, Simon Carswell.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

John Paul Phelan: Well, I spoke to-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

John Paul Phelan: -----earlier on. It's 8 February 2010, Simon Carswell, The Irish Times, that the IMF told the late Minister Lenihan in April 2009 that NAMA would not lead to a significant increase in lending by the banks in light of the fact that one of the chief reasons for ... given at the time in the Oireachtas for the establishment of NAMA was that it would lead to an increase. Were you aware of that...

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

John Paul Phelan: Briefly Mr. McDonagh, I want to go back to a question I asked earlier in relation to the rationale that was given by many people at the time of the legislation to establish NAMA, that its establishment would lead to an increase in bank lending. I want to put a quote to you. It is a quote from the Dáil of 16 September 2009 during the discussion on the NAMA legislation. The former and...