Results 14,341-14,360 of 26,228 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: Did the witness believe that UniCredit should have reported to the Central Bank on the 40% breech at that time?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: What Mr. Sugarman is saying is that the reporting requirements were there within the new regulations but, when he reported to the Central Bank-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: The Central Bank ignored Mr. Sugarman's-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: And Mr. Sugarman believes that was the fundamental flaw.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: Mr. Sugarman believes that the Central Bank ignored him and that is the heart of the matter for him. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: I now understand precisely where Mr. Sugarman is coming from.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: I think that it is something that we as a committee will have to take up with the Central Bank at some stage.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: Explain that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: Mr. Sugarman-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: Is there any possibility that Mr. Sugarman got it wrong?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: Did Mr. Sugarman have a follow-up with the Central Bank? When the response came back from the Central Bank, did it basically say that it noted Mr. Sugarman's letter?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: How long was the letter?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: Mr. Sugarman might paraphrase it again.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: Was there any follow-up with the Central Bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: Did Mr. Sugarman not think he should follow up with the Central Bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: I thank Mr. Sugarman.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: I wish to ask about UniCredit's 20% breach of the liquidity limit. Was 1% the accepted norm or was it less than 1%?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: Okay. How much liquidity would UniCredit have been short due to that 20% breach? Can the witness quantify-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: Would that have arisen due to short-term borrowing for long-term loans? Was it an overnight-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: Could the bank have had access to a credit line from the Central Bank? Was there a credit line that the bank could have had access to?