Results 16,961-16,980 of 26,050 for speaker:Kieran O'Donnell

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: Did you-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: Did you not consider looking for it at the time?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: The credit concentration limits and the-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: Should the stress tests have been carried out by the Financial Regulator rather than the Central Bank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: Yes, but you were regulating the banks. You had a detached entity in the Central Bank setting the stress tests on which you basing the information. So I am asking you, would it not have been a lot more practical that the Financial Regulator should have been setting the stress tests for the banks? You're a practical man.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: Of course it matters. Sure they ... the regulator had the, had the knowledge of what was happening, so the question I am asking, based on the knowledge base-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: -----would it not have made a lot more sense for the regulator be setting the stress tests for the banks for which they were inspecting, rather than the Central Bank, who was not inspecting the banks?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: Right. Secondly, is it fair to say that based on the fact with the principles-based regulation put the Financial Regulator third down the line of protection, that, and the fact that the board of the Financial Regulator had no-one with financial regulatory expertise, so you couldn't actually oversee the quality of work being done by the executive? That in substance, legally, the Financial...

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: So what would you say?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: But in essence, the Financial Regulator was not doing anything to assess the risks the banks were taking in respect of loans?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Kieran O'Donnell: Okay, thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: No, no.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: No, no, it's fine, Chairman.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: What changes did you implement in 2009 to ensure appropriate action was taken against the banks for breaching regulations?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: And I ... just for a point of clarification, what administrative sanctions were at the disposal of the regulator against the banks for breach of guidelines, for breach of regulations? Because there's an area of confusion around this. So can you just, on the record, what administrative sanctions were available to the regulator?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: And were those administrative, we'll say, sanctions, were they just around consumer protection? What about, we'll say, prudential lending? About, we'll say, breach of guidelines, where effectively that they could only, we'll say, up to 200%, 250% in terms of ... within any category of loans?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: And how would they have been codified?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: By whom?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: By whom?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Kieran O'Donnell: So it was open to the regulator from 2005 on to basically bring in sanctions against banks that were breaching growth in property lending, if they wished?