Results 1,081-1,100 of 4,414 for speaker:Sean Barrett

Joint Oireachtas Committee on Transport and Communications: National Postcode System - Eircode: Loc8 Code Limited (30 Jun 2015)

Sean Barrett: After Irish Water, we have to be really careful. If we tell every household in the country that their address has now changed to have seven characters of mixed digits and letters, it may be the last straw. People will say, "What is this? It is more madness." I am afraid of that. I certainly hope it is kicked to touch until after the election for that very reason. There have to be...

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Sean Barrett: Thank you very much, Chairman, and welcome to the Governor ... back again. You ... you said that it was a pointless cosmetic exercise when the Irish authorities were pressed by the troika to merge Anglo with the INBS and the EBS with AIB and it served no strategic purpose. What did you have in ... in mind in that reconfiguration, if you like, of Irish banking?

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Sean Barrett: But you referred, before the break, to "the evils of a concentrated banking market". Is that a problem we're now going to face?

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Sean Barrett: You were speaking to us before the break again on how you're impressed with BlackRock compared to previous examinations of Irish banks. Could you tell the committee and those watching in, what the main extra measures BlackRock brought to this particular issue?

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Sean Barrett: And are you bringing that new knowledge to the meetings that bank auditors have with your regulatory staff?

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Sean Barrett: So again, people looking in would be reassured that Irish banks are much better monitored to prevent a recurrence of what this committee's been examining-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Sean Barrett: One of the things that we wanted to do is to reduce the loan-to-deposit ratio to 122.5% instead of what was an unsustainable 180%. How is progress going? Are we closer to 122%?

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Sean Barrett: Now you referred this morning, at the end of your speech to us, that you've spoken repeatedly to Oireachtas committees about the disappointingly slow progress in dealing with non-performing loans, especially mortgage arrears. What do you think should happen there?

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Sean Barrett: I note the IMF calls for "more efficient repossession proceedings" and so that would cause concern to lots of people.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Sean Barrett: And the mortgage arrears over 720 days, are rapidly rising as a proportion of the totals. So this problem is getting worse, isn't it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Sean Barrett: Thank you. Thanks, Chair.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Sean Barrett: OECD.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Sean Barrett: Thank you, Chairman, and welcome back, Governor. You, in your presentation on page 9, you model the cost of our troubles in this regard as €100 billion, compared to how the economy would have performed "in the presence of [a] prudent pre-crisis banking practice". From watching it, what do you think happened to Irish banking? I think, you know, a most conservative, straight banking...

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Sean Barrett: In relation to the world as we plan it ahead, Governor, how would we decide what's the optimal rate of credit growth in an economy like Ireland? Obviously something below 25% per annum, but is there a formula which you've come across in your studies?

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Sean Barrett: Yes?

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Sean Barrett: Are we protected now against sectoral concentration in construction and in commercial property, in particular?

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Sean Barrett: If we decide that X - we'll use that - is the optimum rate of growth and credit, how can we separate that X in allocating it to the pillar banks and non-pillar banks? Would your successor have to intervene at that level?

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Sean Barrett: How do we compare, in regulatory regime and procedures, now to international comparisons? And, I suppose, The Economistraises Canada, Australia and Singapore as places which regulated banks and didn't get into the kind of difficulties that other countries did.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Sean Barrett: They may send for you, of course, in your career change.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Sean Barrett: Openness and communication and nobody afraid to speak up. Can that survive when you depart, because we've had witnesses here who very obviously don't believe in openness and communication? And with you being absent from the principals in future, I just would be worried about that. It's not common yet in the Central Bank, the banks themselves or the Department of Finance.