Results 1,581-1,600 of 4,414 for speaker:Sean Barrett

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Sean Barrett: Thank you very much. Thank you, Chair.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Sean Barrett: I think Senator MacSharry is on the list, is he? Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Sean Barrett: Thank you, Chairman, and I don't want to delay the proceedings. The IPAV members, if I may ask Mr. Davitt, on the valuation panels, are they subject to participation restrictions such as a maximum number of valuations for the same bank client or does a rotation regime apply?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Sean Barrett: Are your members paid a percentage of the price of a property, for their services?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Sean Barrett: From anybody.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Sean Barrett: Okay, now in Vol. 2, page 15 of the papers, core documents, if I may refer you to that. There is a statement at the end of that, "Anglo methodology not market practice." What was the difference between the Anglo methodology and the market practice?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Sean Barrett: But somebody is offering it as an explanation why a property dropped €104 million between 1 September 2008 and 11 December 2008. Did Anglo have a different methodology to everybody else? Was that known in the trade?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Sean Barrett: And just, can I bring another question to you, if I may? That you called, in Vol. 1 for, on page 55 of that document, in your pre-budget submission, for "a doubling of mortgage interest relief for first-time buyers" and that was in 2007. Wouldn't that have caused yet another bout of house price inflation?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Sean Barrett: In that same document, around page 13,16, the Central Bank says that you have poor valuation instructions, poor documentation, poor qualifications, failure to conduct regular evaluation, informal evaluation, updates. It's a fairly strong indictment of your profession, isn't it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Sean Barrett: I'm looking at Vol. 1, pages 13, 16, 18. I was coming to the end of my time, so I had to lump them all together, 18, 20, but there is a lot of criticism from the Central Bank of the-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Sean Barrett: It is, yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Sean Barrett: I think the first of them starts on page 13, "Poor valuation instructions" and then, but it's a theme that continued, very strongly throughout the document as you know.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Sean Barrett: And, poor documentation, poor qualifications, failure to conduct regular valuations, informal valuations and updates?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Sean Barrett: Do those all stand as criticisms, or what has been done since to remedy what the Central Bank was saying?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Sean Barrett: Thank you and thanks, Chairman.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Sean Barrett: Thank you very much, and welcome, gentlemen. How many people in Deloitte worked on the Ulster Bank audit?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Sean Barrett: And then I think there's about €2 million on the audit paid to you between 2004 and 2010, and about €1 million on other activities. What were the other activities?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Sean Barrett: Thank you. Did you ever have any concerns about the exceptions to lending policy in Ulster Bank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Sean Barrett: And who did you express the concerns to?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Sean Barrett: And were Ulster Bank aware of your concerns?