Results 16,441-16,460 of 26,043 for speaker:Kieran O'Donnell
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: But you-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: Sorry, it's here, yes, apologies.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: Yes, it's-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: €3.6 billion.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: So, in late 2010, if the IMF-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: -----had not exercised their veto, you believe burden sharing, tax saving of just short of €4 billion would have arisen in Anglo?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: Okay. And in terms of ... and in that particular case. Just going back to the issue in terms of the loans, do you think in hindsight, and looking back, that you could have got to grips with the level of potential losses in ... or, sorry, the level of losses that were building up in terms of the loan book in the banks, earlier than you did? And how would you have gone about that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: And what would be your estimate, Ms Nolan, of what the cost of the guarantee, in terms of the recapitalisation of the banks, will be to the Irish taxpayer eventually?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: You don't see that arising?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: And can I ask you, the ... just going back to the ... I suppose the issue in terms of ... are you familiar with IAS 39, the accounting standard in terms of-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: The question really, I suppose, is that, based on that accounting standard, there would be a view that it allowed the delay of losses from 2005 onwards. At the time, when you were looking at due diligence, did you receive any professional advice regarding ... that, from '05 onwards, that there was a change in the way losses were assessed in terms of audits of banks?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: You wouldn't remember the detail, no, okay. Thank you, Chairman.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: At the time when Anglo was nationalised on 18 January '09, was Anglo insolvent at the time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: In substance?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: And, on NAMA, in your statement you referenced that ... the transfer of loans based on a discount on a broad stratified sample of loans for each bank, which I'm assuming is linking in to what was the original business plan, which is a 30% discount.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: What would have been the benefit of that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: Okay. Would you have liked to have seen Anglo - or IBRC - liquidated before it was?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: And was there a point that you could have done it prior to the first repayment having to be made on the promissory note?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: It wasn't an option.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: And, I suppose, finally, if NAMA hadn't been established ... hadn't been set up or the haircuts were much lower, could we have avoided a bailout?