Results 4,021-4,040 of 6,295 for speaker:Michael D'Arcy

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: -----were Irish-based Irish-domiciled banks that were regulated by the Central Bank of Ireland.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: I assume Mr. Sugarman should ask the Director of Public Prosecutions, DPP. That is not a matter for the banking inquiry.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: I am just making the point to Mr. Sugarman we did not investigate the German bank which was the biggest bank with the biggest crash in the banking crisis and we did not investigate-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: That is correct; we did not. It was not part of our remit.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: It was overseen by the German institutions.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: The parent bank was Hypo.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: On the basis of that, similar to Ulster Bank and other institutions where the parent bank was domiciled-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: We also did not bring in the risk managers of those institutions because of the constraints of time in the banking inquiry.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: Mr. Sugarman-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: No, not all of them. We also did not-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: Mr. Sugarman, please.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: If Mr. Sugarman does not mind, I am just discussing the role and the fundamentals which we as the banking inquiry tried to operate.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: We did not look at them all. I will also give Mr. Sugarman-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: No, I will expand for Mr. Sugarman's information. The DPP had quite a constraining role relating to the banking inquiry.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: There were criminal cases coming forward. That was why.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: Well, that is a matter for the DPP.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: At the stage when Mr. Sugarman had interaction with the Central Bank there was a different structure than what is in place today. It was broken between the two sectors, including the Office of the Financial Regulator, which was run by Mr. Neary. With which section of the Central Bank was Mr. Sugarman in contact?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: The breach of 20% of liquidity-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: I am trying to understand whether it was possible for somebody in a financial institution to say "No".

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: To state the institution was beyond its limits and to state he or she would not sanction it and that the institution was at 24% of liquidity. Could any individual have said "Stop"?