Results 1,201-1,220 of 7,975 for speaker:Joe Higgins
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Joe Higgins: Do you have a minute of that meeting yourself?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Joe Higgins: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Joe Higgins: But-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Joe Higgins: -----Mr. Neary, should at least that warning have led you not to say a few weeks later on the "Prime Time" programme, that the issues of the exposure to property and the liquidity issues were totally unrelated? Isn't it quite clear that there is looming issues of insolvency here?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Joe Higgins: Is it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Joe Higgins: Mr. Neary, I want to go back very briefly to the bubble period again. Did you notice, around the 2002-2003 period, when banks like Allied Irish Banks and Bank of Ireland began to borrow very heavily on the bond markets, as opposed to relying on their deposits, which was the traditional thing in Irish banks up to then, did you notice this? Did you attach any significance to this as being a...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Joe Higgins: But one of your juniors-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Joe Higgins: -----Mr. Horan, who was here yesterday, became quite alarmed around 2005, particularly having studied what happened with the crisis in the Scandinavian banking system in the '90s.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Joe Higgins: Were you aware of that history of a big bubble in Sweden, for example, among others-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Joe Higgins: -----and the dangers that should then-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Joe Higgins: Was it a huge change for Ireland and should red flags have gone up?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Joe Higgins: Well ... I have one more.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Joe Higgins: Right ... okay. Mr. Neary, the fact that the legislation of 2003 made you a promoter of the financial industry and also its regulator, and Governor Honahan referred to it in his report as a conflict, and there was reference from Mary Burke yesterday that there was pressure that the domestic banks would not be seen ... sorry, that the I ... International Financial Services Centre would not be...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Joe Higgins: -----account, by having lower standards-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Joe Higgins: -----than the domestic banks.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Joe Higgins: -----the insinuation perhaps being that everything was lowered in terms of regulatory requirements. Did that fact put enormous pressure on you, as regulator, essentially not to become the heavy, because as Governor Honohan said, I haven't time to quote it, there was significant Government backing for the idea of the IFSC as a light-touch regulation place?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Joe Higgins: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Joe Higgins: But Honohan says in page 108-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Joe Higgins: Thanks, Chairman. Thanks, Mr. Grimes. Mr. Grimes, can I ask you, in, say, the second half of 2007 and then into 2008, up to and including September 2008, were there concerns at senior levels of the Central Bank that one or more Irish financial institutions might be insolvent?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Joe Higgins: Well, can I take you through some of the evidence in relation to these concerns and tease things out a bit? So, Vol. 2, page 3 of the core documents and we have an e-mail here in which you are included, Mr. Grimes. This should come up shortly-----