Results 1,161-1,180 of 4,168 for speaker:Susan O'Keeffe

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)

Susan O'Keeffe: Mr. Cowen, going back to November 2007, and this is Vol. 2 of the Department of Finance. It may be a different ... I'll give you the reference, DOF01962005. This would have been a document called "Confidential", which was written by the Central Bank. It was an assessment of financial market developments, 16 November 2007. I'm assuming that this was a document that you would have seen,...

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)

Susan O'Keeffe: I gave them the number.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)

Susan O'Keeffe: Basically it was warning you, warning everyone-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)

Susan O'Keeffe: Can you stop the clock then?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)

Susan O'Keeffe: Can you stop the clock for me, please?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)

Susan O'Keeffe: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)

Susan O'Keeffe: So, basically, this document was saying that things are, you know, that things are serious - the level of activity in the interbank lending market is low, interbank rates remain high and so on, banks are currently executing contingency funding arrangements. So, from November 2007, at the very least, you, as Minister for Finance, would've been aware that your own authorities were telling you...

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)

Susan O'Keeffe: I'm sorry, pages-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)

Susan O'Keeffe: -----3, 4 and 5.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)

Susan O'Keeffe: Vol. 2, the Department of Finance.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)

Susan O'Keeffe: It's the Central Bank-Financial Regulator "Assessment of Financial Market Developments - 16 November 2007".

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)

Susan O'Keeffe: A confidential document.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)

Susan O'Keeffe: And there's a summary that was written ... I think, it was sent to William Beausang and the Tánaiste, written by Michael Manley.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)

Susan O'Keeffe: Okay. Okay, so, what I'm trying to assess was that at the very least, this would've been-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)

Susan O'Keeffe: Yes, thank you. I'm sorry. At the very least, Mr. Cowen, whatever might've happened prior to that, this was a serious document, I think you might agree, a confidential document setting out some of the dilemmas and saying, really, that nothing was likely to change in the next few months, that things were, if anything, going to get worse. So, I'm trying to establish whether you, as Minister...

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)

Susan O'Keeffe: That's the question ... is, what ... what did you do? I mean, and just ... might I add-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)

Susan O'Keeffe: -----that Mr. Cardiff did tell us he was part of a secret team-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)

Susan O'Keeffe: -----of people.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)

Susan O'Keeffe: So you didn't feel the need yourself to have any additional hands-on piece? You felt that that was sufficient?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Susan O'Keeffe: Thank you, Chair ... sorry, Ms Nolan. From 2009 to May 2010, what was the Department of Finance doing to ascertain the true state of the banks?