Results 4,461-4,480 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: It's just he's said me two minutes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: Okay, and then, were you consulted on Mr. Hurley's approach to the banks in March 2008, where he asked the banks to continue lending to each other?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: You weren't, okay. I'm just curious, as head of banking supervision, that you weren't involved in the domestic standing group as an active member, or regular member. You weren't in the room for the crisis simulation exercise, you didn't have a direct role in the scoping paper prepare, looking at the nationalisation or liquidisation ... or liquidation, excuse me, or guaranteeing of a banks,...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: And can I just clarify how many positions were above you, between yourself and, say, Mr. Grimes, the deputy governor?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: Okay, thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: Thank you, Chairman. Thank you, Mr. Horan, you're very welcome. I just want to move forward to 2007, if I may. You were a member of the domestic standing group?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: Okay. Were there any deficiencies in the DSG's operating model?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: Why was the NTMA brought in in 2008?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: It was late 2008, sorry, when they came in it was-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: Is that what you were saying, it was late 2008-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: Would their absence up until that point be seen as a deficiency, do you think, in terms of the membership?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: And was there any agency missing from the DSG?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: You said that the level of contacts, interaction between both yourself and the Central Bank with the Department of Finance increased as a result of the establishment of the DSG. So did it increase to what would be seen as a normal level of activity or a heightened level of activity?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: But prior to the establishment of the DSG, in your opinion, would have the interaction between Financial Regulator and the Department of Finance been sufficient?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: Okay. The simulation exercise that was conducted at the end of December, or, sorry, at the end of 2007 in December ... were you involved in that simulation exercise?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: Okay. I'm just wondering, how close to reality are these exercises? I mean, do the observations that are made in the simulation, do they translate to the real world?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: One lesson learned by the Financial Regulator was that the ... there was insufficient contact between the regulator and the Department of Finance and the Central Bank's feedback was that finance was out of the picture. So was that in the exercise or does that reflect the reality?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: In Mr. Hurley's evidence, when discussing the stress testing exercises, he said that "One of the conclusions was that there was too quick a movement to a guarantee in the context of the stress test''. Do you remember that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: Okay. Do you recall the 2005 crisis simulation exercise? You were working in banking supervision at the time.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: Because one of the observations from that exercise was that there was a lack of clarity about the supervisory regime and the nature of information that would be available in a real crisis. That was following the exercise in 2005. Do you recall that at the time?