Results 4,501-4,520 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: Okay, but, you know, who might be providing the international viewpoint at that meeting?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: Okay. Can we just drop down, just to the final sentence, because that states that the Financial Regulator "reported a detailed line-by-line examination of its loan book by one of the major Irish banks which highlighted that even allowing for 'worst-case' loan losses, profitability would remain strong". You made that point.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: Okay. Is it possible to identify which institution you had-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: Okay, well, I mean, how did that information come to you and did you verify it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: And, so ... sorry, were you then expressing that view depending on what the rating agencies were saying?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: Okay, but not feedback-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: Thank you, Chair. Not feedback that you, as Financial Regulator, would have verified before bringing it to the domestic standing group, to overrule a point made by someone else as to the international viewpoint on significant loan losses, potentially, in the Irish banks?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: So, it wasn't a decision?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: Thank you, Chair.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: Thank you, Chairman. And thank you, Mr. Horan. I just ... to conclude, I want to look at one document, if I may, and it's in Vol. 2 of your booklet, page 127.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: This is a meeting on 26 September, so it's the Friday before the guarantee. And at this meeting, three representatives from Merrill Lynch are making a presentation to five others, including the Minister, and including yourself.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: Is this the domestic standing group meeting?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: This meeting continued on the Sunday, the day before the night of the guarantee. Were you at the meeting on the Sunday?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: You were. Okay. And just on the second last paragraph on that page, it says, "On a blanket guarantee for all banks - ML felt could be a mistake and hit national rating and allow poorer banks to continue." What was the reaction to that? And was there any discussion at that point in time about partial guarantee, either for five banks or for four banks?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: Okay. And when that discussion continued, the possibility of a five-bank or a four-bank guarantee, was that discussion held, given what was stated there at that meeting on a blanket guarantee?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: Okay. You would not have thought so.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: Do you remember then if Merrill Lynch, at that follow-up meeting, was sticking to the warnings against a blanket guarantee?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: Okay, and just as a final question then. So, you don't participate in the follow-up meetings on a Monday and a Monday evening in terms of being in the room, as you were then, so have you briefed Mr. Neary in the interim as to what is happening? And do you ... did you brief him with the recommendation?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: With a recommendation ... would you brief with the recommendation as to a view?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Eoghan Murphy: Okay, and you didn't keep a minute yourself of this ... of these meetings?