Results 16,661-16,680 of 26,050 for speaker:Kieran O'Donnell

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Kieran O'Donnell: Okay-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Kieran O'Donnell: About two o'clock in the morning, roughly.

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Kieran O'Donnell: And why was it based on the bank's wording? Did you ... had .. was there no wording within the Department itself on the guarantee?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Kieran O'Donnell: But the decision had been made at that point.

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Kieran O'Donnell: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Kieran O'Donnell: Who would have been someone senior?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Kieran O'Donnell: I suppose, in the limited time, I just want ... there is a couple of points I just want to tease. The ... the bank guarantee-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Kieran O'Donnell: No, no. The line-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Kieran O'Donnell: The word-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Kieran O'Donnell: -----the wording ... the wording that came in - that you had from the banks - was effectively an open-ended guarantee in that the banks were looking for all loans, existing loans and all future loans, to be guaranteed for the full term of their loans, correct?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Kieran O'Donnell: And how long would you have been discussing that document? Was there any due diligence done on that document? If you hadn't seen that ... that details when you were actually drafting up the note - the announcement - would it have been spotted ... what the ... what the banks had in their wording?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Kieran O'Donnell: But how long were you discussing that? When the banks came in, was there copies made of the document they'd provided?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Kieran O'Donnell: How many copies?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Kieran O'Donnell: So, therefore, there was a number ... so there ... that document ... and was that document a handwritten document or a typed document?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Kieran O'Donnell: And how ... and when you came back in-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Kieran O'Donnell: But why wasn't it picked up in terms of the due diligence and discussions prior to you being handed this bank wording? Why wasn't it picked up?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Kieran O'Donnell: But you were given the banks' wording-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Kieran O'Donnell: But you were working up there wording, Mr. Cardiff-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Kieran O'Donnell: In the limited time I have, you were given their wording, which was the only document you were given to draft an announcement. In that wording, was effectively an open-ended guarantee to the banks for ... for all current-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Kieran O'Donnell: Yes, yes. But the question, I suppose, I am posing is ... the National Treasury Management Agency, Brendan McDonagh, was below in a room. He was your special adviser, special banking advisers. Why wasn't he brought into the room to actually have a look at this document that was provided by the banks that formed the basis of an announcement?