Results 9,461-9,480 of 26,465 for speaker:John McGuinness

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: The point, on which Senator O'Donnell picked up, concerned the chief risk manager, the manager responsible under legislation for reporting to the Central Bank if there is any difficulty with liquidity in the bank. There are not 80 to 100 of them.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: I understand that. Where legislation is in place relative to a risk manager and where a liquidity difficulty or other difficulty arises in the bank, must the risk manager report it to the Central Bank? Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: Okay, fine.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: Did the witnesses ever make a report to the Central Bank through the risk manager or the risk manager group relative to the performance of the bank? That is all I am asking.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: Every day.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: Did the witness every have cause to say, "We have a difficulty here".

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: The bank did not have to comment back in 2000 when we had the crash because we all saw the outcome of that. All I am asking for is that there be an appropriate structure in place, as I understand is now in place-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: Did the witnesses ever have to report to the Central Bank on a concern the bank might have had? In the answer, it is stated the bank co-operated fully with the banking inquiry in 2015. There was a crash but nobody seemed to have reported to the Central Bank that there was a liquidity problem, or otherwise. In the years from the crash onwards, has there been any reason to report to the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: I know. Has the bank had to report on any adverse details?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: It is not that the witness cannot but that he will not.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: It is central to the work of this committee to know, at the least, whether there is any difficulty in any bank that has caused the witnesses to talk to the Central Bank. I am not saying the witnesses' bank has any difficulty but that generally, out of respect, we should be informed. That is all I am asking. I am now finding out that, irrespective of whether there is a difficulty in regard...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: This is not personal. Senator O'Donnell said earlier that Mr. Boucher said at a committee meeting at some stage or another he had concerns about a liquidity problem in 2008. That is fair enough.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: That is where the question is coming from. In answers to questions Nos. 27 and 28, the witnesses gave a reply that is just bank talk and bluff. That is how I would describe it. The way in which the bank has answered those two questions does not impress me. If the witnesses can, they should be a little more open about the issues. They have given their answer today so we will take it up...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: I know how it is set out but the question is whether it works. The question is on the Central Bank's view of the interaction with banks generally and the information they give. My view on the witnesses' answer to questions Nos. 27 and 28 is that they have refused to answer. If the 100 pages were written by the same individual who wrote the paragraph given, I do not believe I would like to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: I am not going to pursue it today but I will in the future because I do not accept that Mr. McLoughlin does not necessarily have to answer here in regard to questions Nos. 27 and 28. I refer to the manner in which the questions have been answered. If the Central Bank can put it into its report and if Frankfurt put it into a report, we have to be clear here in order to rebuild confidence in...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: Yes, but why was the operator not asked whether the information could be given to the finance committee, and then it could be given, instead of sending the fool further? This type of gobbledygook and smoke and mirrors has not served us well in the past and is not serving us well now. Does Senator Horkan wish to contribute?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: I am conscious of the time but ask Mr. McLoughlin to bear with us for a few minutes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: That question was asked before but I ask Mr. McLoughlin to go through it.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: The question has been asked before and I am pointing that out. However, if Senator Horkan will bear with me, I ask Mr. McLoughlin if he will cover the points that were not covered before.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: To conclude, I would like to raise a couple of issues. We will not get into them but I would like to mention them to Mr. McLoughlin. A lot of the cases being heard at registrar's court level involve Bank of Ireland. I attend some of the registrars' courts. When a customer of the bank engages with the registrar in an attempt to get information, correspondence or whatever else through the...