Results 2,281-2,300 of 6,295 for speaker:Michael D'Arcy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael D'Arcy: In previous evidence from your former workplace, we were told that people were being undermined within the structure. Did you ever see evidence of that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael D'Arcy: Did you hear that evidence previously given?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael D'Arcy: Yes, sorry. Mary Burke made the point that ... in her written statement ... in her opening statement, that there would be senior banking officials ... would be seen in the building and that matters would be discussed at higher level. I think the term "on the 7th floor" was used. You didn't see any of that evidence?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael D'Arcy: Okay. You ... in your opening statement, you said ... sorry ... was it fair that confidence was so low within the organisation that you were working? Was it fair and reasonable that it was so low?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael D'Arcy: Did your ... did the office of the regulator fail the people of Ireland?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael D'Arcy: No, sorry-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael D'Arcy: Not the model. Did the office fail?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael D'Arcy: Could I just ... if you could allow me, Chairman, please, because it was something that we discussed with Mr. Patrick Neary. We keep talking about "principles-based", but people make determinations based upon those principles, and the point was put to Mr. Neary also that the decision of people ... or the decisions that people make in relation to those principles-based model, was that the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael D'Arcy: And if you were to apportion the split of the both, which ... is it 50:50, 60:40, 70:30, please?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael D'Arcy: Thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael D'Arcy: Thank you. Mr. Roux, thank you for coming. I'm going to quote from ... I'm going to ask you to look at your documents, discussing the IMF detailed assessment of observance in relation to Basel core principles. Can you give your assessment of the quality and adequacy of the advice given by European banking supervisory bodies to the Central Bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael D'Arcy: Pages 95, 96, 97.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael D'Arcy: While you are waiting, Mr. Roux, the 2006 Article IV analysis by the IMF was widely off the mark.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael D'Arcy: Are you satisfied that the international analysis now is on the mark?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael D'Arcy: Potentially the difficulty that is coming down the track, at some stage in the future, is a different crisis than what has happened in the past.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael D'Arcy: The Basel III rules, they are untested, in the same way Basel II was untested prior to the crisis. They were completely inadequate.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael D'Arcy: Can I ask your view about the areas that are unregulated that are offering similar banking services, the new platforms that are available today, the private equity firms that effectively act as financial institutions? Are there risks from these sources of financing that, Basel III or that, are unregulated by sectors within finance?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael D'Arcy: But are these not ... these are effectively unregulated, the equity companies?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael D'Arcy: Is the same level of oversight in these money markets occurring as there is in banking institutions currently?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael D'Arcy: I hope it's not principles-based?