Former AIB Group Chief Executives Eugene Sheehy and Michael Buckley and outgoing Chief Executive David Duffy will appear before the Oireachtas Banking Inquiry as part of its Nexus Phase public hearings tomorrow, Wednesday, 29th April.<\/p>\n
During the Nexus Phase the Committee is engaging with institutions and individuals who had roles relating to the crisis. It is focusing on three broad elements \u2014 Banking Systems & Practices; Regulatory and Supervisory Systems & Practices; and Crisis management systems and policy responses \u2014 and how these three elements interacted with each other.<\/p>\n
Chairman Ciaran Lynch TD said: \u201cAmong the issues to be addressed with Eugene Sheehy are: the quality of business model setting process; the appropriateness of property related lending strategies and risk strategies; the appropriateness of credit policies, delegated authorities and exception management; analysis of risk concentration in the base, the adverse economic scenarios and the impact on capital structures; the adequacy of incentive and remuneration arrangements to promote sound risk Governance; the nature and appropriateness of the relationship between the Central Bank (including the Financial Regulator) Department of Finance and the banking institutions; the liquidity versus solvency debate; and the appropriateness of the bank guarantee decision.<\/p>\n
In its meeting with Mr Buckley, the Committee will focus on: the composition, skills and experience of board and board sub-committees; the quality of business model setting process; analysis of risk concentrations in base and adverse economic scenarios and impact on capital structure; the adequacy of incentive and remuneration arrangements to promote sound risk governance; and the nature and appropriateness of the relationship between the Central Bank, including the Financial Regulator, the Department of Finance and the Banking Institutions.<\/p>\n
David Duffy will be questioned on a number of issues, including the effectiveness of banks\u2019 board governance, client relationship and business model; the effectiveness of banks\u2019 credit strategies and risk management; the impact of remuneration arrangements on banks\u2019 risk management; the nature and appropriateness of the relationship between the Central Bank, including the Financial Regulator, the Department of Finance and the banking institutions; the appropriateness and effectiveness of the domestic policy responses; and the appropriateness and effectiveness of other EU-wide policy responses.\u201d<\/p>\n
Nexus Phase hearings will run from on Wednesday, 29th April until the middle of September with a total of 64 public hearings planned. It is envisaged that at least 60 witnesses will be called to the public hearings.<\/p>\n
Deputy Lynch said: \u201cThis phase of our hearings includes a move by the Committee to compelling witnesses and statements and the use of evidence. Under the witness management protocol, there will be a structured witness engagement with a seven week lead-in between the notification and the public hearing. The protocol includes timescales, evidence books and technical briefings.\u201d<\/p>\n
The meeting with Eugene Sheehy and Michael Buckley will start in Committee Room 1, Leinster House at 9.30am. The meeting with David Duffy will take place in Committee Room 1 at 2.30pm.<\/p>\n
Further information on the Oireachtas Banking Inquiry can be accessed on this website. Full committee proceedings will be webcast live on this website, while Oireachtas TV will broadcast proceedings from 9.30am-11.15am.<\/p>\n
Committee proceedings can also be viewed on the move, through the Houses of the Oireachtas Smartphone App, available for Apple and Android devices.<\/p>\n
All media enquiries in relation to the Oireachtas Banking Inquiry should be addressed to:<\/p>\n
Ciaran Brennan,
\nHouses of the Oireachtas,
\nCommunications Unit,
\nLeinster House,
\nDublin 2<\/p>\n
P: +3531 618 3903
\nM: 086-0496518
\nF: +3531 618 4551<\/p>\n
All general enquiries should be directed to the Committee Secretariat.<\/p>\n
e. contactbankinquiry@oireachtas.ie
\nt. +353 1 618 3651<\/p>\n
Committee Membership<\/strong><\/p>\n Deputies<\/em><\/p>\n Ciar\u00e1n Lynch (Chairman) Senators<\/em><\/p>\n Sean D Barrett Former AIB Group Chief Executives Eugene Sheehy and Michael Buckley and outgoing Chief Executive David Duffy will appear before the Oireachtas Banking Inquiry as part of its Nexus Phase public hearings tomorrow, Wednesday, 29th April.<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[],"_links":{"self":[{"href":"https:\/\/inquiries.oireachtas.ie\/banking\/wp-json\/wp\/v2\/posts\/4614"}],"collection":[{"href":"https:\/\/inquiries.oireachtas.ie\/banking\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/inquiries.oireachtas.ie\/banking\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/inquiries.oireachtas.ie\/banking\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/inquiries.oireachtas.ie\/banking\/wp-json\/wp\/v2\/comments?post=4614"}],"version-history":[{"count":1,"href":"https:\/\/inquiries.oireachtas.ie\/banking\/wp-json\/wp\/v2\/posts\/4614\/revisions"}],"predecessor-version":[{"id":4620,"href":"https:\/\/inquiries.oireachtas.ie\/banking\/wp-json\/wp\/v2\/posts\/4614\/revisions\/4620"}],"wp:attachment":[{"href":"https:\/\/inquiries.oireachtas.ie\/banking\/wp-json\/wp\/v2\/media?parent=4614"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/inquiries.oireachtas.ie\/banking\/wp-json\/wp\/v2\/categories?post=4614"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/inquiries.oireachtas.ie\/banking\/wp-json\/wp\/v2\/tags?post=4614"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nPearse Doherty
\nJoe Higgins
\nMichael McGrath
\nEoghan Murphy
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