Results 16,941-16,960 of 26,050 for speaker:Kieran O'Donnell
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Kieran O'Donnell: In hindsight-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Kieran O'Donnell: Can I just ... on a small note. The issue of golf balls being provided, hosted by the Irish financial regulatory authority, were you aware of that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Kieran O'Donnell: You weren’t aware of it prior to that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Kieran O'Donnell: It didn’t come up at the board level?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Kieran O'Donnell: Can I just go back to your statement ... do you think it was appropriate?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Kieran O'Donnell: It was about driving golf balls----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Kieran O'Donnell: Can I go to page 3 of your statement-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Kieran O'Donnell: -----and you said ... that’s what I’m trying to do, Chairman ... Many of the interactions with senior bankers on these issues were extremely robust. During [our] heated discussions in my presence, the CEO of a large bank threw a bunch of keys across the table to our CEO and asked him if he wanted to run the expletive bank. When did that happen? Who was CEO at the time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Kieran O'Donnell: Why did you put it into your statement?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Kieran O'Donnell: So ... and what was the actual circumstances around it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Kieran O'Donnell: Can I ask you two final things? Looking back now in hindsight - and you made reference there, there was measures available to the bank - did you have much interaction as chair – you reported it to the Minister for Finance - did you have much interaction with the Ministers of the time, Charlie McCreevy and Brian Cowen, in your time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Kieran O'Donnell: Did you have discussions with the Minister of the time in 2006, where you spoke about the compliance statements and you got a letter back in November 2006 that not to proceed? Did you go to the Minister and impress upon him the need for this to happen? And also there was obviously worries at the board level in terms of the state of the loans in the banks. Did you, as chair, meet with the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Kieran O'Donnell: Why not?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Kieran O'Donnell: So, looking back now, what would you have done differently. You were there for five years, okay-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Kieran O'Donnell: -----and during that time, the balance sheets of the banks and property loans were growing at about 30% per annum, consistently across all the major banks, and clearly ... and you had the ECB saying at the time that loans should have gone up by, maybe, up to 4% per annum. So, looking back now, are you ... do you believe that the financial, we’ll say, regularity authority failed in its...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Kieran O'Donnell: And yet, Mr. Patterson, there was no consumer interest on the board of IFSRA, when it was established?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Kieran O'Donnell: But you had a situation where you had no one with banking regulation experience and you had no one representing interests of consumers specifically.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Kieran O'Donnell: But that was within the bank.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Kieran O'Donnell: So continue, we'll say, in terms of what you would have done------
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Kieran O'Donnell: And do you believe that the credit sector concentrations and prudent underwriting standards were important to financial stability? And do you believe that there were adequate discussions of breaches of lending policy and sector risk concentration limits at board meetings of both the Central Bank and IFSRA? And when you’re answering that, if there had been members of the board that...