Results 3,941-3,960 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Eoghan Murphy: Thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Eoghan Murphy: Thank you, Chairman, and thank you, Mr. Forde. Mr. Forde, you were still on the board in September 2008. On 26 September, the board decided to pay an increased interim dividend amounting to €270 million. Did you agree with that dividend payment?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Eoghan Murphy: Did you benefit from it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Eoghan Murphy: And did you reinvest in AIB shares?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Eoghan Murphy: And do you remember people objecting to the issuance of that dividend?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Eoghan Murphy: Thank you, Chair. I just want to ... just a couple of brief questions then. The accounting standard, IAS 39 ... did you understand the flaw in that standard when it was introduced?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Eoghan Murphy: Did you express that view to anyone?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Eoghan Murphy: Were you aware that the banks in Spain were ignoring the application of that accounting standard?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Eoghan Murphy: And was there any discussion that you might follow the lead of the Spanish banks and ignore it yourself?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Eoghan Murphy: And did your bank or the auditors discuss bringing this to the regulator's attention?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Eoghan Murphy: And was there any discussion then of doing your own internal bookkeeping that wasn't for official accounts that would, you know-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Eoghan Murphy: No, you'd meet these standards with your official accounts, of course, and with your auditors, but you yourself would take your own look, using a different accounting standard, to be safe?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Eoghan Murphy: No, but in terms of understanding what the potential provision might need to be under different standards?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Eoghan Murphy: But would you ever attempt to calculate what those, you know, wished for provisions might need to be?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Eoghan Murphy: Was documentation kept on that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Eoghan Murphy: Do you remember how significant the discrepancies were between the wished-for provisioning and the provisioning under the accounting standard?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Eoghan Murphy: Sorry, the difference, the difference.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Eoghan Murphy: But the feeling that you couldn't do that was because the regulator had not permitted you to go outside of that accounting standards?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Eoghan Murphy: Sorry, you said that's why in Spain that's why they were able to do it.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Eoghan Murphy: Okay, thank you.