Results 2,381-2,400 of 6,295 for speaker:Michael D'Arcy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Yes, when you had the same-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: -----principle-based approach.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Just to finish off that line of questioning, Mr. O'Reilly, was it not the standard of the loan book was the real issue for the Irish banking sector?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: The assets on-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Thank you, Chairman. Mr. Patterson, you are welcome. I'm glad to see you're healthy and well.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Can I ask you to look at Vol. 1 of your documents, page 19? Yes. And I'm just looking at the members of the board. There are ten people there. Of the ten members of the board, how many of them had financial and regulatory knowledge or experience?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: So, half the board did and half the board wouldn't have had any.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: And, with hindsight, was that a wise selection of the board?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Mr. Patterson, on page ... on Vol. 2 of your documents, page 54, and I put this to Mr. O'Reilly this morning also, the Nyberg report, on section 4.4.2. The last line of that section: "Indeed it was even suggested that detailed enquiries by the [Central Bank] regarding the basis for the [Financial Regulator's] assessments could have been regarded as an unacceptable intrusion into the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Where do you think Mr. Nyberg came up with that analysis?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Can I put it to you, Mr. Patterson, that the consolidated data was available per institution to IFSRA or the Financial Regulator's office, that consolidated data was not available per individual institution? The institutions themselves had their own data. And again I put this to Mr. O'Reilly this morning, that the ... you were the only body who had knowledge of the people who were at the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Okay. The genesis of the growth started around 2001 and you came in shortly after that. The growth, the figures that we have is around 30% year on year, compound, by the banks. Did you realise that that was a dangerous level of growth?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: The FSRs that came in the name of IFSRA, the Financial Regulator-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Or the Central Bank, sorry.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: But it was IFSRA who would have collated them along with the Central Bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: The level of personal indebtedness, which was itemised as a particular vulnerability, in 1995 was 71% of GDP ... I've collated these figures from the FSR reports. In two ... of GDP. In 2007, 12 years later, the figure of GNP in the IFSRA ... or in the FSR report was 248%, taking this country to the most personally indebted nation within western Europe. Was that not highlighted to you, as...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Did you notice it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Were you aware that the citizens of this country-----