Results 4,081-4,100 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: Okay. In correlation with the new unit, which was targeted at the main players, as it was described in the minute, in the property sector, in mortgage lending, growth moved from €27.6 billion to €60.8 billion between 2001 and 2008, and if we go to reference document BOI - B2, page 10, we'll see that policy changes ... there was a number of policy changes for mortgage lending at...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: In July 2005, you introduced 100% mortgages. And the reason that's stated in BOI - B2, page 17, was "...in response to moves by key competitors, First Active, Ulster Bank, and PTSB....". Again, is this an example of you chasing ... changing your business practices to chase the competition?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: Were you on the credit committee in July 2005?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: 100% mortgages was wrong. Thank you. Concerns were expressed by the Financial Regulator in ... as early as July 2003, before you were at the bank, and the reference is BOI - B1, page 67. They did an examination and the examination raises questions about the maintenance of lending standards in your institution and about your ongoing monitoring, management and control of risk in relation to...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: But in making those decisions, or at least being aware of the decisions, and being in the bank then subsequently, were you aware that the Financial Regulator had been expressing concerns, or what ... whether there was concerns?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: Okay. You came onto the board in 2006. Do you think there was an appropriate level of reporting to the board on the concentration risk being faced by Bank of Ireland?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: There was not?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: And what role did the group credit committee and other committees like that have in terms of taking over control, if you like, of the bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: Why wasn't the board provided with this information?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: So was it insufficient oversight then on the part of the board, is that how you'd describe it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: Okay. So when we then look-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: Yes. But as a member of the board and also then, you know, a senior manager, how did you reconcile that position of information not being sought or information not being provided?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: And the time you were on the board, you were also on the group risk credit committee-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: -----group risk committee?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: You were involved with the group risk policy committee from 2006 and then on the board as well, subsequently, in 2006?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: Okay. Thank you. Thank you, Chairman.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: Thank you, Chairman, and thank you, Mr. Boucher. I just want to come back to what we were discussing earlier about this dedicated property unit that you established in 2004. When you look now at the PwC Project Atlas report, and you look at what happened with NAMA, do you view the setting up of that unit as a mistake for the bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: Can I ask about the structure of this dedicated unit? Why was private banking included?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: Exclusively at the time?