Results 17,341-17,360 of 26,053 for speaker:Kieran O'Donnell

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Kieran O'Donnell: Finally, Mr. Goggin informed us that he had no idea of what the exposure was for the bank. You would take issue with that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Kieran O'Donnell: Finally, my last question, do you believe Mr. Burrows, on the night of the guarantee, was Anglo Irish and Irish Nationwide Building Society, were they solvent or insolvent?

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Kieran O'Donnell: Thanks, Chairman. I want to refer to Vol. 1, page 54 ... 53 and 54. Either of you can just advise ... the disclosure under section 27B of the Central Bank Act 1997 ... what exactly ... what are the circumstances in which ye're required to report to the ... the Financial Services Regulatory Authority on that? What are the circumstances?

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Kieran O'Donnell: Now, you reported, in respect of the '08 accounts, which is this letter here. Did you report in respect of the '07 accounts?

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Kieran O'Donnell: But when you're ... in 2007 you had issues with going concern-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Kieran O'Donnell: So would you have ... when you wrote to the ... to the financial services ... the regulator, would you have highlighted that you had to have going concerns? Obviously a letter would have gone in early in 2008. Did you highlight that you had going concerns in respect of the '07 accounts?

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Kieran O'Donnell: Well, then, did you highlight ... did you highlight your concerns in respect of ... of liquidity?

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Kieran O'Donnell: No, I suppose, I accept that, I am just making ... the point, really, I ... I want to ... to clarify, is, did you report to the Financial Regulator in respect of the '07 accounts in early '08, and if you did report, did you make reference to the problems with ... with your concerns with liquidity?

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Kieran O'Donnell: So, therefore, when you ... when you sent in your ... your letter to the Financial Services Regulatory Authority you would have said "We've no issues"?

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Kieran O'Donnell: You would have drawn ... you would have drawn attention, Mr. Dobey, to the concerns you had over liquidity, even ... even though ... even though you were satisfied with the ... with the explanations given by AIB?

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Kieran O'Donnell: So your concerns in respect of liquidity and respect of the '07 accounts, the regulator would have been made aware of that in early '08?

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Kieran O'Donnell: For what reason, Mr. Dobey?

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Kieran O'Donnell: And was that specifically to do with AIB?

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Kieran O'Donnell: And was it around liquidity?

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Kieran O'Donnell: Who did you meet, Mr. Dobey?

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Kieran O'Donnell: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Kieran O'Donnell: Fine, you might just give us just a brief indication of what you discussed.

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Kieran O'Donnell: In the limited time, would you provide a copy of that to the committee, Mr. Dobey?

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Kieran O'Donnell: Okay. And can I ask a very quick question? So can I take it that the auditing firms had concerns around the audit of banks and, more particularly, around liquidity at the time in respect to the banks?

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Kieran O'Donnell: But in terms of your discussions with the regulator, you would have highlighted you had concerns, collectively the auditing firms with liquidity and the environment in which the banks were operating in at that time?