Results 2,201-2,220 of 6,295 for speaker:Michael D'Arcy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Can I put it to you, Mr. Neary ... we've had AIB, Bank of Ireland and Ulster Bank in, and they've all made the point that while they had access to their own data of their ... people who they had lent money to, to particular developers, and to a particular sector. One of the things that they did not have access to was the consolidated data, that that was a matter for your ... for the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: You didn't. Mr. McLaughlin made the point about Anglo Irish Bank, a mono-line bank. The figures that were given were 82% commercial real estate sector, 1% residential, 17% corporate lending. And that bank had nothing to do ... had 1% residential, and yet that bank cost the taxpayers of this State €30 billion or thereabouts. What I'm asking you, Mr. Neary, is why, with the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Why did you not request that information? Why did you not impact upon that sector?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Is it not your role as regulator to ensure that the sector is stable, and if the numbers had gone beyond the limits, which they did on a number of occasions?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: What about the commercial real estate sector? As a general.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: 250%?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Is that not the role of the Financial Regulator's office to be clear on what was, .... was that not your role?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Did you take the opportunity?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Mr. Neary, can I move on please?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Can I ask, Mr. Neary, in relation to the FSR reports, you participated in the FSR reports?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: You participated?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Yes, I want to raise the issue of personal indebtedness within banking. In 1995, the percentage of personal indebtedness to the GDP of the nation was 71%; in 2006, it was 192%, according to the FSR reports; in 2007, the predicted figure, according to the FSR report, was 248% of GNP. The original figures I quoted were GDP. What was going to be the outcome, Mr. Neary, when...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: But, Mr. Neary, are you aware of the many people who are before the courts at the moment as a result of the failure to control their personal indebtedness?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: One of the statutory objectives of the Financial Regulator was the promotion of the financial services industry in Ireland. Did the objective affect the prudential role in the Financial Regulator?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: In terms of the usage of the powers that were available to you-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: The sanctions, Mr. Neary, that were available to you ... you'll allow me that time, Chairman, I take it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: The sanctions that were available to you, Mr. Neary, in terms of dealing with financial institutions, did you use those sanctions or did you use your powers? Did ... what I'm talking about are quantitative controls ... did you ever use quantitative controls in relation to sanctioning a bank who had gone beyond particular sector limits?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: What about the control limits?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Did you-----?