Results 8,081-8,100 of 16,537 for speaker:Brian Lenihan Jnr

Financial Transactions (11 Feb 2009)

Brian Lenihan Jnr: The decision on the guarantee was taken on 30 September, not on receipt of the PricewaterhouseCoopers report. That was an exercise to assess the loan quality of the financial institution. I met the author of the report but the focus of the report was on the loan quality of the institution. Naturally, deposits were not examined in the same detail in that report.

Financial Transactions (11 Feb 2009)

Brian Lenihan Jnr: No, he did not inform me of it.

Financial Transactions (11 Feb 2009)

Brian Lenihan Jnr: The issue was identified in express terms as one which the Department should pursue. It was not even expressly identified as a risk factor in the report. When the offer was made to Anglo Irish Bank, however, in respect of the €1.5 billion, that was on the basis that the State would continue with the due diligence process with a more extensive and intrusive investigation into the affairs...

Financial Transactions (11 Feb 2009)

Brian Lenihan Jnr: The intention is to publish the annual report at some stage after 20 February 2009. It will be published as soon as possible after that date. In response to Deputies O'Donnell and Costello, the PricewaterhouseCoopers report contains a great deal of confidential information about individual customers of the bank.

Financial Transactions (11 Feb 2009)

Brian Lenihan Jnr: I am examining whether it will be possible, in respect of the bank in which the State is a shareholder, to publish the maximum amount possible, consistent with the protection of the necessary confidentiality which must exist between a customer and a bank in an institution which we now own, and to do that when the annual report is published. The report contains 120 pages on each of the...

Financial Transactions (11 Feb 2009)

Brian Lenihan Jnr: I did not say that.

Financial Transactions (11 Feb 2009)

Brian Lenihan Jnr: I answered the question on the report already. The Deputy chose to misconstrue my reply and state that I had not read the sections relating to Anglo Irish Bank.

Financial Transactions (11 Feb 2009)

Brian Lenihan Jnr: I stated that I had not read the entirety of the report, which contained 120 pages on each of six financial institutions, that I had been briefed extensively by my officials on it, that I had met the author of the report and that the matter was listed in the report as an issue to be addressed by the Department, and not a risk factor. Naturally, my concern was directed at risk factors, as...

Financial Transactions (11 Feb 2009)

Brian Lenihan Jnr: The Deputy was concerned about the position of the guarantee and the issues were supplemented by very generous and extensive briefings by my officials on this matter. When the matter was drawn to my attention in January, I took a decision to recommend to my colleagues that we should nationalise this institution, which I believe was the correct decision. Deputy Gilmore cannot point to a cent...

Financial Transactions (11 Feb 2009)

Brian Lenihan Jnr: We are not bailing out the banks. In a battle for financial survival in this country, we will take the necessary decisions to protect the stability of our financial system.

Financial Transactions (11 Feb 2009)

Brian Lenihan Jnr: We will not be distracted by cheap politics. That is not easy, but we will do it.

Financial Transactions (11 Feb 2009)

Brian Lenihan Jnr: I made it clear in my earlier replies that I had advised my colleagues that there were issues of concern on corporate governance and that investigations were ongoing, but I did not disclose to the Taoiseach or my colleagues the particular circumstances of this particular transaction.

Financial Transactions (11 Feb 2009)

Brian Lenihan Jnr: I do not have the question tabled by Deputy Morgan, and I should appreciate it if I could have a copy. I have the questions from the other Members and I propose to take all questions together. As Deputies will be aware, the issues referred to in the questions put before the House today are under investigation by various bodies including the Financial Regulator and the Office of the Director...

Financial Transactions (11 Feb 2009)

Brian Lenihan Jnr: ——without the risk of prejudicing the outcome of the investigations, or prosecutions which may arise in the matter.

Financial Transactions (11 Feb 2009)

Brian Lenihan Jnr: However, I would like to outline to the Deputies the Government's approach to date regarding inappropriate practices at Anglo Irish Bank. The obligations and requirements contained in the guarantee scheme gave rise to increased engagement with the covered institutions, which included an assessment of the loan book for the Financial Regulator and capital position of all covered institutions...

Order of Business (11 Feb 2009)

Brian Lenihan Jnr: Shame.

Order of Business (11 Feb 2009)

Brian Lenihan Jnr: We are part of the eurozone. The Deputy should not forget that.

Order of Business (11 Feb 2009)

Brian Lenihan Jnr: It is. There is no impediment. It is out there waiting to be drawn down.

Order of Business (11 Feb 2009)

Brian Lenihan Jnr: I did not mislead the House.

Written Answers — Appointments to State Boards: Appointments to State Boards (10 Feb 2009)

Brian Lenihan Jnr: Appointments to the board of a State Body are generally made by the Minister with responsibility for the Body in question, usually subject to the consent of the Minister for Finance. Renewals of appointments are handled on a similar basis. The arrangements for such appointments are normally set out in the legislation establishing the State Body. The Code of Practice for the Governance of...