Results 15,581-15,600 of 26,043 for speaker:Kieran O'Donnell

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: Not today.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: Not today.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: Can I ask-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

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

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: Mr. Fingleton, why didn't you increase the size of the board in your tenure to bring in, like many other institutions, where they would have had eight or nine, ten people on the board? Why did you maintain it at five, where you had only three non-executive directors? Two of them were executive directors. Why did you maintain the board and more or less the same people over that ten ......

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: And was there ever an occasion ... And, finally Chairman, if I could direct the witness to Vol. 1, page 83. It's the Deloitte and Touche report and it deals with the-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: Page 83. Sorry, well I don't know if it's 83 or 63, Chairman. It's the ... it's 63, I believe.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: Deloitte. Deloitte and Touche report.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: Is it 83? Page 83, at the end, Mr. Fingleton, right. And I just want to get an idea of the day-to-day activity around commercial lending and in terms of approval of commercial lending. And this particular report speaks about ... and I've a few quick questions that-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: Were there ever occasions, Mr. Fingleton, where you approved a loan prior to it being approved by the board ... or, sorry, you approved and granted and extended a loan prior to it being approved by the board?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: That's not my question, Mr. Fingleton. My question is ... is there any occasion where ... prior ... up to December 2007, any loan above €1 million had to be approved by the board.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: Were there ever occasions where you, as CEO, approved and extended a loan of over €1 million to a developer or anyone else ... a commercial loan, without ... or any loan ... without the prior approval of the board of directors?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: And could you extend the funding?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: And what were those ... how would that situation arise?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: So it's not ... so, is it fair ... you ... you made reference earlier, Mr. Fingleton, that you were unique-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: -----you're unique amongst institutions. Any loan of above €1 million had to go to the board. That is not the case, Mr. Fingleton. There was ... you had the discretion to grant a loan above the €1 million level without prior approval of the board.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: But not prior to making it.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: And in hindsight-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: In hindsight, why did you change the rules that after December 2007, loans above €1 million no longer had to be approved by the board? They could be approved by the credit committee without being approved by the board. Why did that change come in?