Results 15,201-15,220 of 26,043 for speaker:Kieran O'Donnell

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: But you also said-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: Can you explain ... you made reference earlier to Senator Barrett that the capital that was in ... I don’t know if you were speaking specifically about Anglo or the other banks, that what was being reported as equity wasn’t actually equity, that here was an element of loans from other banks and subsidiaries. Can you expand on that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: Explain that because that’s – oh, you were talking about the equity on the loans.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: So effectively ... and when you looked at it further were there situations whereby there was nearly 100% gearing across the board on all loans?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: Can I go back on this ... the ... looking at the stress scenarios on the loans in Project Atlas 2? What ... give me the basis of the assumptions in the worst-case stress scenario in Atlas 2? What was your worst case? What were your assumptions?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: That would mean the value of the property would fall 15-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: Explain for a layman. What do you mean by saying that the 15 basis points for mortgages?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: But did ye build into your scenarios in terms of projected fall in the value of property?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: But in terms-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: But, in layman's terms, in terms of looking at your stress case scenarios and potential losses, and in the worst-case stress scenario, what did ye project property would fall by, commercial property?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: But you did a worst-case scenario.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: But it's the highest stress. What will then ... in the highest stress scenario, what did you provide for that in terms of fall in the price of property? Commercial land.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: And that was land. What about property itself?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: So, 4%. And do you believe that was adequate, considering the fall in property-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: No-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: But, Mr. Walsh-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: But, Mr. Walsh, ye took a 45% expected reduction in development land without planning. Over what period of time was that for, did ye think?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: And you took it ... for land with planning, you took 30% over three years. But then, in terms of commercial property itself, you took 4%, much of that which might have been unlet, maybe partially built; 4% would appear to be ... would you not feel it's a very small figure?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: But, looking at it, even at that moment in time, where liquidity had dried up, the banks themselves were doing no further lending, surely 4%, right ... and I would assume the majority of the commercial loans, if you group all corporate commercial loans together, the majority of those would have been in the commercial area, correct? We'll say, the majority.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: So, exponentially, the loss provision that you would have been calculating, the fact that you were only taking 4% on the commercial loan book, would give an artificially low projected loss. Is that fair comment?