Results 17,201-17,220 of 26,053 for speaker:Kieran O'Donnell
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Kieran O'Donnell: Following on from that, on 9 July there is an e-mail, on page 212 of Vol. 1, in which you make reference ... it's an e-mail from the Central Bank to, I think, the Department of Finance where you wish to speak about the special resolution regime and you said, "Irish banks also have full access to the funding facilities of the ECB, which accepts a much broader range of collateral than many...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Kieran O'Donnell: But in your actual presentation to us today, on page 8, you say:The assessment of liquidity risk was a function of the Financial Regulator. When the liquidity crisis struck the Central Bank became involved because of its own responsibilities in relation to European Central Bank liquidity. When did you become involved?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Kieran O'Donnell: The question I really have in the limited time, Mr. Hurley, is that in your role as Governor of the Irish Central Bank and, more particularly, you were a member of the governing council of the ECB, you would have had direct involvement in discussions on overall ECB policy on liquidity. The question is, would you have expected that something of this significance, where one financial...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Kieran O'Donnell: So it was not brought to your attention.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Kieran O'Donnell: You made a reference in your opening statement. You said, "with hindsight, we were wrong." If you were back there again with the financial stability reports and as Governor of the Irish Central Bank, what would you have done differently, if anything?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Kieran O'Donnell: What about the increase in the concentration of property lending? You've omitted that.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Kieran O'Donnell: But is it not fair to say, Mr. Hurley, that both the OECD and the IMF were saying the sustainable level of housing numbers was 45,000? Looking with hindsight now, were enough indicators there for you, as Governor of the Central Bank and the author of the financial stability report, to say that we need remedial measures and that we are potentially going into a crisis?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Kieran O'Donnell: With due respect, Mr. Hurley, in 2006, 93,000 housing units were built.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Kieran O'Donnell: Why didn't you-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Kieran O'Donnell: Are you saying then, Mr. Hurley, you wouldn't have done anything different?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Kieran O'Donnell: Can I finish on this point?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Kieran O'Donnell: You also said in 2006 that while the central expectations remain, the current shock-absorption capacity of the bank leaves it well placed to withstand pressures from possible adverse economic and sectoral developments.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Kieran O'Donnell: In hindsight, was that wrong?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Kieran O'Donnell: In hindsight, was that wrong?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Kieran O'Donnell: Thank you, Chairman. Mr. Hurley, you were out sick for two months from the 19 July to 15 September. Who covered in your absence? Who was acting in your place at that time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Kieran O'Donnell: So the Governor at the time, the deputy at the time was?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Kieran O'Donnell: And the fact that you came back on the 15th, is there any coincidence or not that it coincided with Lehman Brothers filing for bankruptcy?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Kieran O'Donnell: Had you just left hospital at the time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Kieran O'Donnell: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Kieran O'Donnell: Okay; and can you just outline, I'm looking at it here, there were four meetings on the night of the guarantee. You had a plenary meeting, was that at seven o'clock, the first meeting, I think-----