Results 1-8 of 8 for 5 million segment:6208785

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Marc MacSharry: Would there have been many staff, say, that borrowed or were involved in syndication for multi-million, say, in excess of €5 million?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Pearse Doherty: ...Atlas in page 19 the different types of exposures you have, so this individual is definitely in the top five. In September '07, the board had approved that underwrite ... written ... €789 million. A number of weeks later, on the 5 December '07, a request came for €202 million additional to this individual. Now, the document ... if we look at page 36 of the document ... the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Mr. Donal Forde: Yes, I see the piece. And the commitment that was made in the directive in '06 was that valuations over a certain, for security, over €5 million or €4 million, was to be valued. I think that would be a reference to ... that would be a reference to valuations for the ... for smaller values. So it's not ... I think it may be wrong to suggest that ... that's...

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

...That, well, they weren't sought at all times until about 2006, I think it was, when the audit committee dictated that there should be formal independent valuations then for security greater than €5 million, I think it was, at that stage.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Marc MacSharry: Which was €5 million.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Mr. Donal Forde: Which was €5 million. The view at the time was that it was uneconomic to do that below. Here you had a view being raised that perhaps the outside world was going to expect that it was being done in all cases and we should reconsider, but this-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

...practice of not always getting valuations for the smaller assets as distinct from the other issue, which we talked earlier on, which is the board decreed that all assets of value of greater than €5 million had to be properly valued. I think that was being done. I think there was a concern that we should be doing it, perhaps, for the smaller cases also.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

...expansion and development, and a good example is provided by the statements made at the launch of the national development plan in 2007. Just one detail from it: it was planned to spend €70 million a day every day for seven years on infrastructure with full employment, net inward migration, low debt-to-GDP ratio, budget surplus and buoyant tax revenue, and lots of civil servants...