Results 1,961-1,980 of 4,168 for speaker:Susan O'Keeffe
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Susan O'Keeffe: Okay, right. So ... I have the minute of it and the reference is BOI 02010. And it says that a liability review of INBS had been carried out, that there was a funding gap of €4 billion and that a summary balance sheet for INBS was provided to illustrate this point.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Susan O'Keeffe: Now this meeting was attended by yourself, Mr. Goggin, Mr. Boucher, David Dilger, Heather Ann McSharry, Mr. Kennedy, Mr. McCourt ... basically it was a court meeting-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Susan O'Keeffe: It was an emergency meeting because it was a Sunday.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Susan O'Keeffe: So you were all very concerned at that point.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Susan O'Keeffe: So can you tell us ... that happened on 7 September. Why was it then that there was radio silence between 7 September and thereafter about INBS, given where you ... what you were thinking of at this point?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Susan O'Keeffe: It says at the end the governor and the group chief executive should then assess whether to directly approach the Government to convey the group's assessment of the situation and explain the reasons why Bank of Ireland couldn't accede to the Financial Regulator's request. Did you do that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Susan O'Keeffe: Did you approach the Government?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Susan O'Keeffe: Why was that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Susan O'Keeffe: Even though there was funding gap of €4 billion and you'd been asked-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Susan O'Keeffe: -----to rescue it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Susan O'Keeffe: So, you'd been asked to rescue it, and you didn't then go back to Government and say, "We're not going to rescue it". You didn't think that was appropriate.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Susan O'Keeffe: Okay. When Mr. Boucher was here, he gave us a document called Financial Market Development and Scenarios, exhibit B3, and, in this document, which was given to the court, and he said himself on page 11 of his own testimony, that this document was written, he wasn't quite sure, but it was either the first or the second week of September. It was a fairly comprehensive document, in which...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Susan O'Keeffe: And one of the available management actions, in the long list, capital raising, to have a rights issue, a one-for-two rights issue at about 40% discount, would raise €1.7 billion post-transaction costs, and add 1.4% to equity tier 1 ratio at March '09. Obviously, things ... this is a serious option, was it pursued?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Susan O'Keeffe: And then, were any of the options, do you recall, that were laid out here, pursued?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Susan O'Keeffe: Do you accept, Mr. Burrows, that this document indicates the very, very serious matters that were going on inside your own bank at that time, and that you were talking about stopping? You were talking about increasing deposits, you were talking about stopping - no, it is the last question - you were talking about stopping lending and so on, that everything that was laid out here would...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Susan O'Keeffe: And could I just follow up and say ... you didn't spare blushes, can you recall, Mr. Burrows, whether AIB similarly didn't spare their blushes, so to speak, and shared their, you know, their own ... their internal matters may have been different to yours, but did they share them in the way that you did?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Susan O'Keeffe: No, but can you remember if there was equally a conversation, of them saying, "Well we have our own concerns".
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Susan O'Keeffe: Okay, so you both shared your concerns about your own situation with Government at that time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Susan O'Keeffe: Your own situation, I mean, as well as?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Susan O'Keeffe: Thank you. Thank you, Chair.