Results 1,641-1,660 of 4,414 for speaker:Sean Barrett
- Seanad: Spring Economic Statement: Statements (6 May 2015)
Sean Barrett: As always, I welcome the Minister of State to the House. Dr. Stephen Kinsella of the University of Limerick wrote about the spring exercise: "This balancing act deserves applause". What the Ministers, Deputies Noonan and Howlin, are trying to do is commendable, namely, that we not revert to a boom-and-bust cycle. Where I have just come from, the banking inquiry, will have a role to play in...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Sean Barrett: Thank you, Chairman, and welcome to Mr. Boucher. When you were answering my colleague, Deputy Phelan, on the exceptions for owner-occupier mortgages, 24,000 of them ... on page 55 of B2 ... you said that there were within the bank ... contesting and debate on these issues. But the then governor for most of that period, Mr. Crowley, said, "In particular, I do not recall any issues of...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Sean Barrett: Are there other major changes that you've introduced to change the bank from the one you inherited, because the committee has to come up with recommendations for the future conduct of banking in Ireland?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Sean Barrett: And you mentioned the €6 billion that you've repaid. What's the loss of shareholder value from peak to trough for holders of Bank of Ireland shares?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Sean Barrett: How much did shareholders lose?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Sean Barrett: But wouldn't people who have your shares as pensions or, indeed, pension funds have an idea of what this has cost the wider society?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Sean Barrett: You mention ... in our papers ... B2, at pages 18 and 19, that the 100% mortgage was introduced in July 2005. And it's recorded that by November there was no formal response from the regulator. Now, we've heard from Mr. Goggin that there was misgivings within the bank and that he recommended 90% in discussions with the regulator. Did the regulator ever express an opinion after July 2005...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Sean Barrett: Yes. Would you have expected him to come back at least by November when this practice started in July?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Sean Barrett: Residential investment property ... that's also ... it's 63, 67, in book B2. The residential investment property, RIP [I think there's irony in that] doubled within Bank of Ireland over 15 months from 2003 to September 2004. Was the risk associated with that appreciated?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Sean Barrett: Because, by 22 November 2004, the risk policy committee minutes says, "the book is relatively unseasoned and untested" ... "50% of [that] book is less than 12 months old". So that was a speculative era in property to a dangerous degree, I suppose, compared to what the bank had to correct later on.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Sean Barrett: Thank you very much, Mr. Boucher. Thank you, Chairman.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Sean Barrett: Thank you, Chairman, and welcome, Mr. McCarthy.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Sean Barrett: On the 100% mortgages, there was a dissident at the board, Mr. Livingstone, isn't that correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Sean Barrett: He found supporting the proposal difficult. Did you get a response from the regulator?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Sean Barrett: When you say over a number of months, how long was that correspondence?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Sean Barrett: So after six months you proceeded on the basis he did agree?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Sean Barrett: And while ... the bailout for Ulster has come from the Royal Bank of Scotland, is that right?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Sean Barrett: €14.3 billion between 2009 and 2013. Has it been more since?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Sean Barrett: Page 6 of your presentation ... the one you sent in to us. The Irish Financial Services Regulatory Authority also set a commercial real estate cap at 250% of the capital base. In July 2007 the financial regulator agreed to a cap of 500%. Could you give us the background to ... was that your request ... to raise it to 500%?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Sean Barrett: And did ... just Ulster or did the other banks join you in that episode?