Results 1,781-1,800 of 4,168 for speaker:Susan O'Keeffe
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: Finally, the report we spoke about earlier, that you completed on 10 September, the outlook for liquidity.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: I'm sorry - your department. That was obviously, roughly two weeks or three weeks before the night of the guarantee. Would your department have had any further involvement as the crisis escalated into that period of time, would you have been asked for any more information, would you have been supplying information to the Central Bank, to the regulator, to the Department of Finance, in that...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: Sure. But you were part of-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: Would you have been at those meetings yourself-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: And so, finally, would you have taken the view that on the night of the guarantee, that the financial institutions were solvent, all of them, or not? Given what you knew.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: Thanks, Chair. Mr. Horan, on page 11 of your statement you say from a supervisory perspective these two issues are considered to be very closely related as liquidity issues in banks can quickly give rise to solvency problems and vice versa. I mean, in the context of this, every time we raise the word "solvency", everybody runs off into the distance, but when we talk about liquidity, we're...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: So at the time as it closed in through July, August, September, and it was clear that there were serious liquidity issues with many of the banks, and some more acutely than others, is it fair to ask then whether discussions that were being had with all levels, among all different groups of people, yourself included, I'm sure, were also considering the solvency of those institutions and...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: Given you'd had ... there was a liquidity crisis which, as you say yourself, roughly started around August '07 had now been running for a year ... I mean, does the length and depth of a crisis of that kind not escalate the fear of insolvency? I mean a liquidity crisis of a week you might say, "yes, yes that's fine", but this is a year?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: We heard evidence earlier from Ms Burke about meetings that took place on the seventh floor, to use that expression, between senior executives from banks and senior executives within the Financial Regulator and Central Bank, I think. Were you ever party to those meetings, do you know what that's about, that these were meetings that were not minuted and were not discussed then, by and large,...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: No no, we're talking about earlier than that, she was talking about a period before that, 2006, '07, '08.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: Okay. I think you said earlier that when you tried to introduce those measures about increasing capital for high loan-to-value mortgages in 2005-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: -----you said you encountered the difficulty, environment of groupthink, I think was the expression that you used.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: All right, okay. Was there, I mean, you said I introduced measures in a "difficult environment of groupthink", I'm sorry, was that the only thing that was going on there, do you think, it was just groupthink, or was there other resistance to change, and if so, what might that resistance have looked like?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: Just finally, were you disappointed in 2005 when your attempts to intervene, if you like, were turned down?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: Or frustrated.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Susan O'Keeffe: And they prevailed.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Susan O'Keeffe: Mr. Hurley, in Professor John FitzGerald's evidence on pages 329 and 330 he said:Looking back on it, had I even looked at the data on the balance sheet of the banking system, I would have known there was a major problem. I would not have needed a lot of research to conclude it was not just fiscal policy ... I suppose a lot of people relied on the fact that the Central Bank had the biggest...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Susan O'Keeffe: So you disagree with that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Susan O'Keeffe: Were you aware in early 2006 that the rating agency, Fitch, had placed Irish banks on a lower rated category for macro-prudential risk?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Susan O'Keeffe: Were you aware that throughout 2006-2007, the Financial Regulator was in constant contact with banks, talking about their sectoral concentration, allowing leeway for them to be in breach of those sectoral concentration levels?