Results 3,701-3,720 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Marc MacSharry: So, I want to know, what way was it done there, would it have been described as principle based with a little bit more hands-on enforcement or would it have been rules based ... where would it have been? I'm interested in the change because of what we're trying to do, looking back over a period-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Marc MacSharry: Okay. To take the opportunity to hear what went on in other countries.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Marc MacSharry: And was there enforcement then? I mean, when you saw that, what kind of enforcement measures did you put in to make sure a bank came up to that bar - when you raised it - in a French context-----?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Marc MacSharry: Thanks and welcome, Mr. O'Connell. Just to get through a few ... the mandatory pieces first. Was there any interaction with the banking supervisory team on macroeconomic or financial aspects, for example, on the strong credit growth in the years preceding the crisis?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Marc MacSharry: Okay, apart from water fountain interactions, was there a structural or formal interaction between your department and the banking supervisory team in a variety of issues, but you specifically said the stability report?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Marc MacSharry: Were you on that and was there-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Marc MacSharry: That's grand, so there was interaction. That's good. And it was in a formal way, yes or no?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Marc MacSharry: Okay, that's grand. On page 40 of the Regling and Watson report it is mentioned that by far the most serious macro-financial flaw was the over-exposure of institutions to commercial property. From the documentation seen by the inquiry this, particular theme of commercial property financing appears not to have been regularly discussed at the Central Bank and Financial Services Authority of...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Marc MacSharry: But is it your contention that commercial property and its importance, while you may have been personally aware, as you said there, it was growing to 45% in the early 2000s, your ... is it your contention that because it was conceived or felt to be politically more important, it was ignored?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Marc MacSharry: Okay. In your opinion, were banks aware of the risks to financial stability and to their own business strategies, and would you think that the banks awareness of this increased over time or what's your sense of it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Marc MacSharry: Can you just ... I know you said it earlier and, just for fear of getting it wrong, I'm going to ask you to repeat it cause I mightn't have been concentrating as much as I should have been. Your position on retirement was what?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Marc MacSharry: Assistant director general. And you reported, if I recall correctly, to the director general, on the economics side, and the Governor themselves?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Marc MacSharry: Okay. Would there be any ... is it fair to say that these two individuals, or these roles, were the only two people more senior to you?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Marc MacSharry: What's the problem?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Marc MacSharry: Well, I'm not mentioning any names.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Marc MacSharry: The positions were held by various people, through the Chair-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Marc MacSharry: Yes, if we could. Can I speak?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Marc MacSharry: So-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Marc MacSharry: So, now that we're all clear, can you tell me were there any other positions that were more senior to yours than the two that I outlined?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Marc MacSharry: So apart from the position, as opposed to the personality ... apart from the position of deputy director general, director general and Governor, were there any more senior people than you in the Central Bank?