Results 2,361-2,380 of 6,295 for speaker:Michael D'Arcy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Can I refer back to Vol. 2 of your documents on page 3? And I believe this is a 33AK document, it's an aggregate of the documents, I'm not sure if it's going to come up on the screen ... can it come up on the screen? But I'm going to read from it, Mr. O'Reilly. And this is a meeting in April 2004, you were in your job 12 months: X reported under Financial Stability Matters on recent...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: It brings it back. In terms of ... this was discussed at both boards, am I correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: And in 2004 we were in the throes of the large growth of the bank balance sheets?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Were you concerned by the large growth of the banks' balance sheets?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Can I just follow on in that paragraph: Indeed, he indicated there may be a "degree of euphoria building up in the property lending markets and that the boards and management of banks are being myopic about the potential risks." X outlined a work programme including a "roadshow" designed to convince the bank boards of the "rationale to curb lending" no [direct] regulatory action was...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: If you turn the page Mr. O'Reilly, at page 4, and again I think this should be able to come up, it's an aggregate document. Minutes of the meeting of the IFSRA regulatory authority 2003 to 2004. Supervision agreed at the November ['03] meeting to put in place a ... Task Force to address [the issue] of corporate governance and commercial lending that had arisen following [the discussion]...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Was that information ever compiled by IFSRA?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: So just to be very clear, developer X had a billion with bank A, developer X had another billion with bank B and your staff never collated that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Were you surprised when the information came out that 19 lenders within NAMA had €22 billion worth of loans?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: But it would have started in your period, the build-up?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Okay. Thank you, Chairman. What changes would you have introduced, going back to that period? What would have been the two major changes that you would have introduced into the model of regulation and enforcement?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Again, just to conclude, Mr. O'Reilly, Vol. 2, page 36, there's a letter to you from Michael Buckley, AIB chief executive. Is this allowed to be shown, Chair? This is not allowed to be shown. Section 33AK. It should be in front of Mr. ... page 36, yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: It's a letter, yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: And the letter is December '03.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: I put to Mr. Buckley, during previous testimony ... I asked him was the risk appropriate for his period as chief executive officer of AIB and he felt it was. Can I ask ... put that question to you, as the regulator, for all of his period of ... as chief executive of AIB.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Mr. O'Reilly, just one point. The principle-based regulation within our jurisdiction was the same as the principle-based regulation in other jurisdictions; is that correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: We weren't as ... as-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Okay. Well, can you explain why, in our jurisdiction, the debt ratio between what the banking collapse cost this State, in comparison to our GDP, was a multiple times other countries'?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: No, why? Why was it?