Results 9,721-9,740 of 26,737 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: Mr. McLoughlin mentioned preference for a fixed rate. He talked about this earlier with some of the members here. What is that fixed rate?
- 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 bank undertake a review as to how this tracker issue occurred?
- 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, but how did it actually happen? Was it just a complete accident, human error? Has Bank of Ireland looked at that part of 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 bank has not carried out that analysis yet.
- 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. I am just asking Mr. McLoughlin, would the bank not be interested in how it actually all happened? It has cost it a lot of money.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: Not yet. My last question is as follows. On 27 in this questionnaire, to which Mr. McLoughlin replied-----
- 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 on page 29 - questions 27 and 28. Mr. McLoughlin was asked, in my opinion, a pretty straightforward question about risk managers. What is a risk manager?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: In this reply Mr. McLoughlin refers to the fact that there is a group risk framework.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: However, there is legislation alongside that and it requires the risk manager to report any breach of liquidity. Is that right? The second part of that question asked for details, if any, of the times since 2005 that the person holding that responsible position of risk manager had changed or if any reports were made to the Central Bank regarding his or her responsibilities.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: Eight hundred?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: Eight hundred?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: Has any of them ever reported concerns?
- 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...