Results 16,001-16,020 of 26,228 for speaker:Kieran O'Donnell

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: So, this was after that ... your intemperate outburst on the subprime lending.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: And do you put it down to an accumulation or do you put it down to your defiance in terms of the bank's proceeding into the subprime market?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: And, Ms Tinney, would you have articulated, at board level, that, we'll say, areas like the rapid increase in the land and development as distinct from commercial lending from '05 on, and their entering into sub-prime market, did you believe that to be reckless, or not, on behalf of the, the bank ... the board of the EBS? Would you have articulated that at board level? Would others have...

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: But ... and, when did you ... when was the rapid escalation? Was that from '05 on?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: And, can I direct you in that regard, Ms Tinney, to page 143, 144 and 147, Vol. 1?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: At 143, yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: And these are, Chairman, these are two of the e-mails you, you refer to, from Alan Merriman to other members of the credit committee.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: The first was, effectively, that you had to come back by noon, which, that came at, that was the 26th, and you've to ... at 8.39 a.m. and it should be back my noon the following day. And this was a commercial loan, development loan, that went from an increase from €34 million to nearly €89 million for one individual. The second one was, on page 147, you were required ... this...

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: So, the first one, were these a regular occurrence?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: So, how often would you get them? The first one was on 25 January '06.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: Correct. So, 25 January '06, I mean, is ... it's a loan exposure to one individual going up by about 160%, over ... the total amount was €55 million. So, how often would these e-mails have come to you?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: Was that the biggest?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: And was that the largest that would have come through?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: Okay, but ... and did other people on the credit committee have reservations about the way this was happening, in terms of e-mails coming out and so forth?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: And were you-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: No, I saw that; I've seen all that.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: Well, I just want to know the procedure. Did the credit committee meet to approve loans?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: So, all the loans were basically approved by way of e-mail?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: If you didn't respond to the e-mail, if you didn't respond-----