Results 1-13 of 13 for ibrc speaker:Simon Harris

Did you mean: ibec speaker:358?

Seanad: Joint Committee of Inquiry into the Banking Crisis: Statements (2 Feb 2016)

Simon Harris: ...was very much consistent. In respect of burden sharing, the Minister for Finance has set out on numerous occasions that the Government considered it in the wind-down of the banks, including the IBRC encompassing Anglo Irish Bank and Irish Nationwide Building Society, but was prevented from taking action due to the ECB's unwillingness to provide the necessary support to allow such action -...

Seanad: Finance (Miscellaneous Provisions) Bill 2015: Second Stage (12 Nov 2015)

Simon Harris: ...as, while the likelihood of the fund being used is quite small, it provides an important reassurance to depositors that DOS funding is available if needed, as has been demonstrated in the cases of IBRC and Berehaven credit union. In my opening speech, I made clear why we need to legislate for insurance continuation provisions, as in their absence, there would be no regulatory regime for...

Topical Issue Debate: IBRC Operations (21 Apr 2015)

Simon Harris: ...which did not require him to be consulted - took a number of steps, including meeting the chairman and the CEO, asking the then Secretary General to meet them and seconding Mr. Neil Ryan to IBRC from the Department of Finance. As part of Ireland's third review under the EU-IMF programme of financial support, a report on which was published in September 2011, Ireland committed to a...

Topical Issue Debate: IBRC Operations (21 Apr 2015)

Simon Harris: I thank Deputy Catherine Murphy for raising the issue. I am grateful to have an opportunity to place some information on this matter on the record of the House. On 15 March 2012, the board of IBRC met and approved the sale of Siteserv. Under the relationship framework that was in place between the Minister for Finance and the bank at that time, which had been place since July 2009, the...

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Simon Harris: If IBRC had engaged in the write-down of loans, was there sanction sought from or required from the Department of Finance for a write-down of loans from IBRC?

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Simon Harris: For example, there is one instance of a write-down of €105 million of a loan from IBRC. Does the Department have a role in approving such write-downs?

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Simon Harris: I do not need data that breaches commercial confidentiality, but it is an interesting one. Was the liquidation of IBRC a quid pro quo for a deal on the promissory notes? We liquidated IBRC, but as the Secretary General of the Department of Finance and given Mr. Moran's understanding of the moves in Europe, was the liquidation an essential part of receiving a deal on the promissory notes?

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Simon Harris: So let me try it a different way. In Mr. Moran's view, would it have been possible to receive the deal we got without the liquidation of IBRC?

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Simon Harris: ...lot about the issue of those who audit our banks. From 2006 to 2009, Irish Nationwide was audited by KPMG. From 2006 to 2011, AIB was also audited by KPMG. KPMG is now the special liquidator for IBRC, which encompasses Irish Nationwide. What were the criteria for establishing who should be the special liquidator for IBRC?

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Simon Harris: So one was ruled out as being the special liquidator if IBRC was involved in legal action?

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Simon Harris: Or if one was currently auditing IBRC.

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Simon Harris: There has been a lot of talk about IBRC staff being transferred to NAMA. Do we have an estimation of how many staff will be required?

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Simon Harris: ...of Finance; third, the issue of bankers' pay and the ongoing Mercer's report; fourth, Mr. Moran's new revised statement of strategy to which he referred in his opening statement; fifth, the issue of IBRC; and, sixth, the ending of the bank guarantee scheme at the end of this month. I will put questions back and forth to Mr. Moran if he is agreeable to that. On the situation at a...