Results 13,581-13,600 of 20,422 for speaker:Brian Stanley
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: I call Deputy Munster.
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: The Deputy's time is up.
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: I ask Mr. Black to be brief because we have gone over time.
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: The Deputy has one minute left.
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: The Deputy's time is up.
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: Thank you. Before I call Deputy McAuliffe, I want to acknowledge the presence of Deputy Dillon.
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: We will try to get the Deputy back in later. The Comptroller and Auditor General has indicated that he would like to speak.
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: The Deputy's time is up. I have a couple of questions. Ms Sweeney mentioned due diligence that is carried out prior to engagement with on-lenders. Is the requirement for a special purpose vehicle a requirement for all on-lenders?
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: It is not a requirement.
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: Was it required in the case of Bibby? My understanding is that it was not.
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: In the case of Bibby, the witnesses were talking about €70 million. Surely the company and the people in charge of credit control would know whether a special purpose vehicle was set up or not in the case of Bibby.
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: On due diligence and tight controls, was the SBCI aware that, prior to the crash, Bibby provided finance to 465 companies, 70% of which were either dissolved or liquidated? Did the SBCI discover that as part of its due diligence?
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: Some 70% of the companies that it provided finance to were either dissolved or liquidated. That does not tally with the figures that I have. I will have to go back and check our records-----
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: I ask Ms Sweeney to come back to us on that.
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: Can I ask that before the end of the meeting Ms Sweeney clarifies whether there was a requirement for a single purpose vehicle, SPV, in respect of Bibby? The other questions I have are for Mr. Black. On the Brexit loan scheme, the take-up seems to be very low. Some €58 million in loans has been approved. I know that the interest rates are up to 4.5%, which is quite high. It is...
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: On the interest rates, what interest rate is the SBCI paying for that money?
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: I understand that.
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: What is the interest rate-----
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: Let me ask the question. What is the interest rate that that money is being accessed at?
- Public Accounts Committee: Strategic Banking Corporation of Ireland: Financial Statements 2019 (9 Mar 2021)
Brian Stanley: Could we return for a moment to the issue of the bonus? As I understand it, there are 23 employees in the SBCI, and six of them got a bonus in the year €0.5 million was lost, in 2019. Mr. Black clarified that. I believe five or six people got the bonus. Can I ask-----