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Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Eoghan Murphy: What about where people are investing themselves in what their own bank, or banker, is investing in, as we have seen in certain cases? They are losing money in that scenario also.

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Eoghan Murphy: Let me go back to the prior step in terms of this extreme growth and the role commercial property lending plays for a bank in managing to make that extreme growth, and the relationship with the regulator in that context.

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Eoghan Murphy: I thank Professor Black.

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Eoghan Murphy: I would like to come back to the idea of minimum harmonisation, which Mr. Nava spoke about in his opening statement. He said this provided the minimum requirements for the enacting of prudential supervision in each member state. To his knowledge, did any country enact less than the minimum requirements or attempt to enact less?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Eoghan Murphy: To Mr. Nava’s knowledge, did any country, at the beginning of the last decade and in the years leading up to 2006, when the directives were transposed, go above the minimum recommendation?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Eoghan Murphy: Is Mr. Nava aware that anyone did? The Commission follows this up.

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Eoghan Murphy: As you watched this happening throughout the 2000s into 2006, and the crisis in 2008, did you find a correlation between those countries that had gone further than the minimum and the success or robustness of their banking system?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Eoghan Murphy: We then come to 2006 and the capital requirements directive. Mr. Nava said in his opening statement that had these powers been used “to the full extent, a number of major difficulties could have been prevented.” He is not talking about one particular country. Is he saying the directive was not being properly implemented or followed?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Eoghan Murphy: Is it fair to say that the 2006 capital requirement directive was sufficient but that the national authorities-----

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Eoghan Murphy: I refer to something Mr. Nava mentioned earlier about credit concentration limits. Are we going to have harmonisation at EU level on credit concentration limits or will that be left to national authorities in new supervisory structures? I was not clear from Mr. Nava's earlier statement if there was going to be an EU-wide directive on credit concentration as part of new structures or whether...

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Eoghan Murphy: I was not clear on the answer. The responsibility for identifying those risks lies with the national supervisor.

Written Answers — Department of Transport, Tourism and Sport: Sporting Events (10 Feb 2015)

Eoghan Murphy: 624. To ask the Minister for Transport, Tourism and Sport if he will provide an update on bid preparations for the 2023 Rugby World Cup. [5728/15]

Written Answers — Department of Transport, Tourism and Sport: Parking Provision (10 Feb 2015)

Eoghan Murphy: 637. To ask the Minister for Transport, Tourism and Sport , further to Parliamentary Question No. 287 of 25 September 2014, if he will provide an update on same; and if he will clarify the situation in view of his correspondence (details supplied). [5982/15]

Climate Action and Low Carbon Development Bill 2015: Second Stage (11 Feb 2015)

Eoghan Murphy: That is correct. How much time do we have?

Climate Action and Low Carbon Development Bill 2015: Second Stage (11 Feb 2015)

Eoghan Murphy: I welcome the opportunity to have this debate. There are many issues on which we could speak in the context of the Bill. I still feel we have not had a proper debate on energy security in this country. Neither have we had a proper debate on fracking or nuclear energy. It is an appropriate time for us to embark on such debates and to look to the future in terms of where we are going with...

Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)

Eoghan Murphy: I thank the Chairman and Professor FitzGerald. I want to look in the first instance at the relationship between the ESRI and the Department of Finance. I think Professor FitzGerald said earlier that in the interactions between the ESRI and the Department of Finance, he clipped them and they would grin and bear it but then in the last decade they became more grumpy. When he released the...

Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)

Eoghan Murphy: Was Professor FitzGerald then aware of any official reaction from Government?

Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)

Eoghan Murphy: Nothing comes back as feedback directly.

Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)

Eoghan Murphy: Was this the medium term review where there was an accusation of economic treason against-----

Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)

Eoghan Murphy: From what public body did it come?

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