Results 1,281-1,300 of 4,414 for speaker:Sean Barrett
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Sean Barrett: And, were those minutes supplied to you?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Sean Barrett: Yes. Because, I mean, there's a statement on page 22, late summer 2007, "The domestic economy and banking system remain sound and there is no cause for alarm". Well, did you come across people on the seventh floor who ... who believed that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Sean Barrett: And ... and what was the ... I mean, you know, all the things which you've been documenting about loans to deposits, sectoral concentration and loan to value ... why were they not noticed? I mean, was ... was this the kind of corporate culture that you found strange or was there any explanation for how people could be so wrong?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Sean Barrett: In early 2008, on the next page, "The commercial property loan book (of the Irish banks) was found to be well diversified on a geographical and sectoral basis [...] this diversification benefit may be offset somewhat by the potential increased comovement between international property prices during a global adverse shock." These were properties which NAMA discounted by over 60%.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Sean Barrett: Yes. Mark Carney, in his speech - the ... the Governor of the Bank of England - last night said, in looking at their system, "individuals must be held to account". Were individuals ever held to account during your time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Sean Barrett: Thank you very much. Thank you, Chairman.
- Seanad: Draft Commission of Investigation (Certain matters concerning transactions entered into by IBRC) Order 2015: Motion (10 Jun 2015)
Sean Barrett: I welcome the Minister. I second what Senator Michael D'Arcy said about the matter. We should remember the late Brian Lenihan today on the anniversary of his death. Last night we were honouring W.B. Yeats. When he was asked what went on in the Seanad, he said the real work of legislation was done in meetings dominated by "old lawyers, old bankers, old businessmen, who ... have begun to...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Sean Barrett: Thank you, Chairman. Just taking up the Chairman's question to you there, if I may, and you're welcome, Ms O'Dea. What was your experience of the interaction with the international authorities during 2009?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Sean Barrett: And with the European authorities?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Sean Barrett: And ... you know, given that we've been building the single currency for ten years and it was obviously getting into trouble and we knew that so much was going wrong in Ireland, was it not strange that we didn't interact with the Europeans through that period?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Sean Barrett: On your document No. 1, if I may, Vol.1, on page 9, it says in section vi), "In addition to the above mainly domestic responsibilities, they contribute to promoting improvements in the international financial system, mainly through involvement in international fora." And that was a 2003 document. Were we doing that in the lead-in to the crisis?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Sean Barrett: The duties of the Governor and the board.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Sean Barrett: The World Economic Forum in 2009 rated the soundness of Irish banks at 121 out of 122 countries that reported. Were there no alarm bells going on through this period?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Sean Barrett: And just over the page on 11 of that document at No. 9, there's "Financial Stability and Membership of Committees". It states: The parties ... [now this involved both the regulator and the Central Bank] will cooperate fully in their relations with and participation in international fora on financial stability issues. In some cases, this will involve dual representation in certain fora....
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Sean Barrett: I mean ... in all of this the €64 billion and the other damage ... outweighed, I think, what might be the price of a cheque book or consumer interest. Were there concerns about the instability generated by international capital flows, for example?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Sean Barrett: The dangers of foreign denominated debt, did that enter into the discussions?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Sean Barrett: Bank credit growing on average at 30% per annum in some of the years and some banks way in excess of that. Were those kinds of issues discussed?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Sean Barrett: Did you make any contribution to bringing our problems to Europe, you know, as the country that had the worst bank crisis as a percentage of GDP?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Sean Barrett: In the lead up to ... to the crisis. We have the impression that some of this came as a surprise in Frankfurt and Brussels but were we alerting people that the situation had deteriorated so much more than in the other member countries of the eurozone?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Sean Barrett: Were there contrarians in the Central Bank?