Results 4,301-4,320 of 7,082 for speaker:John Paul Phelan

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

John Paul Phelan: Does Professor Black feel six or seven years on from the major difficulties financial institutions got into that current regulation is fit for purpose?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

John Paul Phelan: Professor Black gave a number of interviews to Irish media outlets at the end of 2010. In one newspaper interview, he said the Lehman Brothers crisis had saved Ireland from an existential threat. What did he mean by that? Did international factors have an impact on what happened in Ireland?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

John Paul Phelan: At the end of 2010, in a Irish television interview, Professor Black said, "Nobody has responded to the crisis as stupidly as the Irish Government have responded". Will he elaborate on what he meant at the time?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

John Paul Phelan: I have a number of quick questions for Professor Black, the first of which relates to auditors. Did his own investigations in the 1990s in the US lead to the prosecution or fining of auditors for their activities?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

John Paul Phelan: In answer to an earlier question, the professor poured some cold water on Basel III. Does he think that the Basel process is capable of working or delivering results?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

John Paul Phelan: I welcome Mr. Nava to the meeting. In response to Deputy McGrath's question about the years when the crisis first hit here, Mr. Nava said that Ireland met the minimum standards that were laid out by the Commission.

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

John Paul Phelan: Does that not beg the question as to whether those minimum standards served any purpose, in light of what we know now in terms of what was going on in financial institutions in Ireland and elsewhere? What was the purpose of those standards?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

John Paul Phelan: I understand that but it is of very little consolation to the Irish taxpayer that the standards were increased subsequently. In your opening report - and I do not want to be insulting to what Mr. Nava said ---

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

John Paul Phelan: I am not going to be. In his opening statement, he outlined a system of trial and error. There is a strongly held belief in Ireland that we have been at the thin end of the wedge, to use an Irish phrase, in terms of that trial and error process. While changes may have been made subsequently, regulation for which the Commission had an oversight responsibility was wholly inadequate and...

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

John Paul Phelan: I understand but were any sanctions meted out to countries which did not meet the minimum standards prior to the development of the single supervisory mechanism? I ask Mr. Nava to give examples of that.

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

John Paul Phelan: Did it?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

John Paul Phelan: I suspect the answer may be "No".

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

John Paul Phelan: Since the Commission assumed responsibility for the largest 120 institutions-----

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

John Paul Phelan: The ECB I should say. Have there been sanctions handed out to any of those institutions that might have infringed the minimum standards?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

John Paul Phelan: The banks. Since the change to having the largest 120 directly supervised by the ECB have sanctions been imposed?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

John Paul Phelan: I was using "sanction" in the widest possible sense and not specifically related to transposing.

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

John Paul Phelan: It is a matter for the ECB for the largest 120 banks. Earlier this morning Professor Black outlined that the United States had introduced a cap on the annual growth of bank balance sheets - I think he mentioned 25%. Is there any proposal at a European level to look at the level of growth in bank balance sheets annually and have a similar cap at a European level? In Ireland one of the...

Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Second Stage (Resumed) (4 Feb 2015)

John Paul Phelan: I welcome the Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015. Like Deputy Paul J. Connaughton, I was inundated with representations from constituents who had mortgages taken out with institutions no longer in existence, which mortgages were subsequently sold to another mortgage provider primarily existing outside the State. These constituents raised real concerns about...

Written Answers — Department of Finance: Tax Code (3 Feb 2015)

John Paul Phelan: 276. To ask the Minister for Finance his plans to make changes in the next budget to treat cohabiting couples the same as married couples in terms of their income tax; the cost to the Exchequer of such a change; and if he will make a statement on the matter. [4847/15]

Mother and Baby Homes Commission of Investigation: Motion (Resumed) (28 Jan 2015)

John Paul Phelan: I wish to comment on the establishment of the commission of investigation into mother and baby homes and to commend the Minister, Deputy Reilly, on his swift action on the issue. Mother and baby homes are just another chapter in what has been a series of revelations in the past 20 years in this country about the treatment of certain groups in society since the establishment of the State, as...