Results 1,441-1,460 of 4,414 for speaker:Sean Barrett
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: -----the actual limits on the growth of lending by all the lenders in a market.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: Thank you, Chairman.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: Thank you, Chairman, and welcome back, Mr. Hurley. How would you benchmark the Central Bank of Ireland relative to central banks in other jurisdictions?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: Could I ... Thank you. Could I bring up Vol. 2 of the core documents, Chairman, at page 82? This is the notes on an ECOFIN meeting and in the last paragraph you record that:The Council recalls that it has repeatedly urged the Irish authorities, more recently in its 2000 broad guidelines of the economic policies, to ensure economic stability by means of fiscal policy. The Council regrets...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: Having had a-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: Having had a domestic system of bank regulation which worked, was there too much of a hiatus between the launch of the single currency and, you know, as recently as last winter, in that there's a lack of connection between the European Central Bank and national central banks, you know, which might have prevented that kind of collapse of the Irish banking system if you'd had closer contacts...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: Because people might ... looking in might think there was nobody in charge of that currency from 2009 until very recently.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: Was there dialogue in 2008 as the Irish crisis built up to tell Frankfurt, "We're really in trouble here; we need some assistance, because we don't have the resources ourselves to rescue these banks"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: Could I move on to page 88 of the same document, if I may, Chairman? There is a statement at the end of the second paragraph in the ECOFIN briefing notes: "In short, we supervise banking and other financial activities to the highest European and international standards." That was what we said in 2005 but that couldn't possibly be true at this juncture to say that.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: But wasn't it principles-based regulation without sanction, so, therefore, it became self-regulation? There were no sanctions ever applied.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: Thank you. I'll use up my last minute. In the same document, on page 97, the briefing note says, "I am aware that rising house prices in Ireland have been highlighted as a potential source of instability, due to the possible over-exposure of banks in this [matter].", and that was April 2006. There could've been no doubt - I put the point to you - that it wasn't possible ... it actually had...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: But if somebody took up those suggestions, they would've been saying something which we knew at the time and certainly know now. The word "possible" should have been deleted, isn't that correct? It had happened and it was there.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: Were there contrarians at the board or-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Sean Barrett: Thank you, Chairman.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Sean Barrett: Thank you, Chairman, and welcome to our visitors this morning. Could I start with the PwC document on page 25, if I may, please? It deals with the transfers to NAMA which, from the Bank of Ireland, went at a 43% discount. Was that a surprise to the auditors?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Sean Barrett: Could I refer-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Sean Barrett: Thank you. Could I have core document BOI - RBU & LCR at page 14 displayed, please?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Sean Barrett: It's a Bank of Ireland document, Chairman, and-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Sean Barrett: Thank you, Chairman. The statement was made by Mr. Laurence Crowley, the governor of the Bank of Ireland, and his successor endorsed it - Richard Burrows - that, on both of their times as governor, "In particular, I do not recall any issues of imprudent lending being brought to a Board by the Executives of the Bank, the internal auditors or the external auditors."