Results 1,521-1,540 of 4,414 for speaker:Sean Barrett
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: Can I bring you to the concentration ratios. Were they discussed in either of your terms of office?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: And was there concern about them?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: Because there's a letter on, from the Financial Regulator it's in B2, page 71.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: Book 2, page 71.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: If the regulator writes that she is concerned that you don't risk assets to more than 200% of own funds and the reply says, "Bank of Ireland remains comfortable with the exposure", to the outsider that's a strange attitude to the regulator, you know, if the referee draws my attention to fouling somebody and I say, "well I'm quite comfortable with that". Yes well, the referee's job was to...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: Thank you Chairman. The loan-to-deposit ratio rising very rapidly, now you said in your presentation in 2009 you attempted to get back a higher rate of deposits. But when it rose very rapidly, 159% instead of the recommended 120% in September 2008, were there alarm bells at that time about the high level of reliance on wholesale funding?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: And going .... your relationship with the regulator in other aspects. He wrote to the Bank of Ireland on 31 July 2013 about the maintenance of lending standards, ongoing monitoring, the management and control of risk in relation to residential mortgages and that correspondence was still in operation the following December. Was there a very slow rate of response and interaction between the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: In your time, what would you expect to have been the appropriate time to respond to concerns expressed by the regulator?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: Because again, he reports no evidence of where the balance of funding source was, the purchase price, stress testing not carried out, loan files not containing sufficient information to demonstrate the rationale for the lending decision, valuations of property not completed. And we had a affidavit yesterday, a document submitted from the Construction Industry Federation, requiring NAMA to...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: But there was still a 43% discount on what was transferred to NAMA.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: The 100% mortgages in 2005, July 2005... Were there any concerns at board about the launch of that product?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: But the Governor has brought that back to 80% maximum mortgage now as part of a macroprudential measure so I think, in retrospect, isn't it quite plausible that 100% mortgages did cause a lot of the subsequent problems?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: Did banks have an approach to where people had borrowed from multiple banks? Did you know the extent of that practice taking place?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: Yes
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: Was risk regarded as almost mathematical modelling by the banks, rather than looking in what was actually happening in markets, particularly in property?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: Did the auditors, internal or external, draw your attention to any of the problems which were on their way?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: Did the bank discuss the Morgan Kelly articles when they were published?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: And what was the reaction?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: In the reforms of the bank that have taken place in the recent past, what are the ... could you tell us the items that have been changed compared to the period when the bank got into trouble?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Sean Barrett: Thank you.