Results 1,601-1,620 of 4,414 for speaker:Sean Barrett
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Sean Barrett: I know, but who did you express the concerns to? Were Ulster Bank aware that you were concerned?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Sean Barrett: So you ... so I take it you weren't concerned that these were 40% in 2006? You were concerned about how the numbers were made up?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Sean Barrett: You weren't concerned that these were 40% in 2006, these-----?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Sean Barrett: Okay. Professor Brennan, who is an accountant, in 2004 she said that she was concerned about the level of sanctions outside limits, especially with regard to those who had breached both the loan-to-value and the debt service ratio limits. That was 2004.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Sean Barrett: Yes, thank you, Chairman. That is Deloitte, Vol. 1 and it's on page 40. So were you aware that there was concern about these matters at the board level in Ulster Bank ... by ... by an eminent accountant?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Sean Barrett: It is 31/04 and "Professor Brennan queried the level of sanctions outside limits, especially with regard to those which breached [the limits] ... which breached both the loan to value and the debt service ratio limits."
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Sean Barrett: Well, I think it was greater in 2007 than it was 2004 when Professor Brennan raised it.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Sean Barrett: I do believe there were concerns still of that kind in 2007. In fact, that was one of the questions we were putting to people. How was this ... raised by Professor Brennan in 2004 and nothing ... and it getting worse by 2007-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Sean Barrett: But do you not quantify these and see they were greater in 2007 than they were in 2004, when Professor Brennan raised them?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Sean Barrett: I don't understand your use of the word ''concern''. Because each time we come to it you ... you're not concerned. You ... you don't seek to correct the problems which the data disclose.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Sean Barrett: And the controls didn't work. Let's go to loan-to-deposit ratio. It was 211 when it should have been 120. And you said that this was excusable because Royal Bank of Scotland was a sophisticated group with a strong governance culture. I don't think anybody in the United Kingdom believes that of the Royal Bank of Scotland. Record losses ... a bailout by the British Government and a chief...
- Seanad: Alcohol Consumption in Ireland: Statements (12 May 2015)
Sean Barrett: I welcome the Minister. I compliment him on what he has said on Portlaoise, Swinford and the high level of medical negligence claims he is dealing with. I very much like what he says on all of these issues and on the enhanced role of ambulances. On this particular issue, mere alcohol does not thrill me at all. I do not go to pubs. I am probably responsible for one of the 590 pubs which...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)
Sean Barrett: Thank you, Chairman, and welcome back to our visitors this morning. Could I refer to core document UBI-B2C, Vol. 2, pages 19 to 30, and, in particular, page 27 stress testing. The worst case scenario... You tell me when you're ready. Do you need the referencing again?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)
Sean Barrett: Certainly. UBI-B2C, Vol. 2, pages 19 to 30, and, in particular, page 27. Chairman, there was a worst case scenario in stress testing. Residential property prices were forecast to fall by 30% between 2008 to 2009, and commercial property prices were forecast to fall by 40%. That would result in a total impairment charge of €540 million. The actual impairment charge for UBIL was...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)
Sean Barrett: Indeed.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)
Sean Barrett: I will address Mr. Gallagher, if I may? On the core documents, B2, pages 24 to 29, a letter from the Financial Regulator to UBIL, dated 12 March. He was ... the Financial Regulator was concerned regarding the effectiveness of UBIL's credit review process as it related to commercial property lending. Do our visitors think that UBIL had a sufficiently robust and effective credit approval and...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)
Sean Barrett: I just want to, Mr Torpey, arising from his presentation today, Chairman. On page 6, you say that the treasury was transferred to Royal Bank of Scotland. On page 7, accounting functions, accounts production, regulatory reporting and accounts payable were transferred. Yesterday Mr. McCarthy said on his page 7 that Ulster Bank branches had no lending authority and everything was referred to...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)
Sean Barrett: Now you referred earlier, I think it's in response to Deputy Phelan, about the compliance culture of the Royal Bank of Scotland. I have many constituents, the nature of my constituency in the United Kingdom, and I think I'd have to say that compliance and the Royal Bank of Scotland don't actually go well in the same sentence. Record fines for anti-competitive practices on 20/1/ 2011. In...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)
Sean Barrett: And the Treasury Select Committee of the House of Commons found on 10 February 2009 that a senior executive had no technical bank training and no formal qualifications. Was that a problem?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)
Sean Barrett: Thank you very much. Thank you, Chairman.