Results 1,721-1,740 of 4,168 for speaker:Susan O'Keeffe
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Susan O'Keeffe: Yes it is. A consensus had emerged over the days before the guarantee ... the night of the guarantee, that a guarantee was the thing. Now-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Susan O'Keeffe: -----hang on just ... on that night in that first slot of the meeting, are you saying that there was still only a partial guarantee for some banks still being discussed or was it a blanket guarantee at that first part of the meeting?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: Thanks Chair. Can you tell me Mr. Grimes, why do you think that the stress tests that were carried out by the bank, by the Central Bank, failed to foresee the severity of the crisis?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: But you were senior manager at the bank.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: Okay. So it is not something you can discuss.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: At the time Mr. Grimes, as opposed to now with hindsight, do you think that the Central Bank was responding in a timely fashion? I am talking here between August 2007 and September 2008. As you were going in and out of work every day, did you think at the time that the Central Bank was responding in a timely fashion to the local dilemmas that were facing you and the international...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: No, sorry Mr. Grimes, I am asking you to recall at the time, did you think when you went in and out of work we're going a good job, we're doing a great job, we're doing a poor job, it's very difficult. What were you thinking?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: Do you believe Mr. Grimes that the Central Bank was independent of Government?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: Do you believe that the board of the Central Bank was independent of Government or, if you like, of political parties in general?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: Do you recall whether the Central Bank met with any representatives from the Construction Industry Federation in the time that you were discussing and the time that you were involved?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: Do you know why they ... what the meeting was about?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: Their members being developers.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: But just the one meeting?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: Do you recall Mr. Grimes, whether when the financial stability reports were being presented across 2005, 2006, 2007, do you remember any discussion about changing the tone of those reports, about removing material that might have been difficult or that would be suggesting that things were more difficult than they were or do you believe that they were treated fairly and put out as a fair...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: There were not people in the bank, you know, working in the bank saying "we really should be putting this in" or "this piece is really important" and senior people saying "let's take them out because that will reflect badly on the bank".
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: By the end of 2007, two financial institutions were already highly dependent on ECB money for their liquidity, in fact the same two institutions that Deputy Higgins was discussing with you earlier. So from that time on, they were under pressure. Would that be a fair way of describing their position?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: One of those two institutions had its credit ratings downgraded significantly at the beginning of September. Were you present at the meeting that took place over a ... the first weekend in September, at which representatives of two major banks were present to discuss what to do with this institution because it was in crisis?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: Okay. At that meeting, there's evidence given by Mr. Boucher over several pages, but he says "we [looked] at, from memory, ... a quantum of around ... €4 billion and we fed back to the regulator that we weren't comfortable, that wasn't an accurate picture of what was needed" and then he went on to say: to be honest, I felt we should get out of the building ... "We can't support...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: No, sorry, Mr. Grimes, these are people meeting in your offices talking about it, not the market.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: I'm talking here about your own ... you guys.