Results 2,061-2,080 of 6,295 for speaker:Michael D'Arcy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Michael D'Arcy: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Michael D'Arcy: And each year there was a number of exceptions to the policy. And would you have reviewed a sample batch on each?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Michael D'Arcy: Sorry. What I'm trying to get at is, the following year there's another ... percentage of exceptions. When exceptions went through the process and were sanctioned by the bank, did PwC pursue another sample each calendar year as there were exceptions flowing?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Michael D'Arcy: Every year.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Michael D'Arcy: Okay. Page 47 of the ... of your booklet: "Bank of Ireland transferred 191 connections to NAMA with [an] aggregate ... value of [€9.76 billion] ... Cases including policy exceptions [were] identified [of] 139 out of 191 ... [or] ... (73%) with aggregated exposure of [€8.78 billion]". That seems like a very, very high figure for exceptions ... for a huge quantum of money. Were...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Michael D'Arcy: And can you comment on the level of exceptions, 72%, please?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Michael D'Arcy: The ... we know the NAMA numbers were ... people who were transferred were people with €20 million plus. I just want to take the comparison between that and the policy exceptions for owner-occupiers and the policy exceptions for buy-to-let mortgages. The policy ... on page 47 ... on ... in 2005 we have the policy exceptions for owner-occupiers at 10% and for buy-to-lets at 20% ... at...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Michael D'Arcy: I understand that.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Michael D'Arcy: And can you comment on the ... on the percentage difference between owner-occupier exceptions and the buy-to-let exceptions? -----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Michael D'Arcy: -----two times or three times the difference.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Michael D'Arcy: Could you offer an opinion, please?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Michael D'Arcy: Thank you, Chair. Mr. Fitzgerald, what changes, if any, to the auditing process should be taken in to improve the current structures?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Michael D'Arcy: And in terms of ... what’s your opinion in relation to audit firms to further improve the supervisory and the regulatory process of banks and financial institutions?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Michael D'Arcy: Outside of the move to codify those protocols, those non-statutory provisions, anything else you could think of that should be incorporated that haven’t been to date?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: Thank you, Chair. Mr. Hurley, thank you for coming. Just ... in your interaction with the Chairman, Mr. Hurley, are you saying then effectively that the buck did not stop with you in terms of your responsibility for banks?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: So, did the buck stop with you or not?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: I am aware about the carved-out responsibilities, Mr. Hurley. But, I suppose, what the Chairman started off this morning with ... what I'm trying to clarify, is in terms of your overall responsibility for the financial sector for stability. That was your overall responsibility.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: I'm aware of that. But what I'm trying to see was ... who was the person who had the final responsibility. Is that you or is it the opposite, the Financial Regulator?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: So ... and I don't want to put a leading question to you, Mr. Hurley ... in the final analysis, for overall responsibility for the Irish financial institutions, the Irish banking sector, did the buck stop with you?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: Mr. Hurley, the ... have you followed evidence being given by previous witnesses to date?