Results 4,621-4,640 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: Okay, thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: Thank you, Chair. Mr. Roux, you're very welcome. When you came in as and took over the role of deputy governor, did you make any changes or did you continue the work of your predecessor?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: Sorry. I'll be more clear, sorry.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: Would you describe the changes that you brought in as a break with the past or a continuation? That's what I meant.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: And ... would you say you encountered any resistance in your work, internally?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: From staff, or resistance to ideas, or the types of changes you were trying to make either internally within the organisation or from other authorities in the Irish State?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: Coming to this on-site inspection idea, I mean, Deputy McGrath already raised it with you, and you said, I think, there was 40 people now-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: -----as part of the on-site teams. I take it as a result they're spending more time then in the banks, because the Comptroller and Auditor General previously had criticised the number of inspections taking place. So can we assume then that there are more inspections taking place in the bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: And there was also a criticism from the Comptroller and Auditor General about the methodology being used in the course of those inspections. Those criticisms were made in, I think, 1999, 2007 and 2009 about the methodology for calculating risk and how it needed to be improved. So what changes have happened there in terms of the work their teams are doing with this in calculating risk?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: Just give an example then, just to see how things have changed.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: Because in the Honohan report, on page 70, he was talking about the 5 X 5 big developer exposure inspection that took place in December 2007.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: And as part of that inspection they had high priority findings and medium priority findings. One of the medium priority findings noted that one bank had underestimated its exposure to an individual borrower by €1 billion. So my first question would be would that still be a medium priority finding?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: Even though the rankings has been for high priority, medium priority? When these on-site inspection reports come back to you they will have findings: high priority, medium, low. Are you not familiar with how they-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: But when Mr. Neary was here he intimated that a high priority finding-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: -----would be highly unusual.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: Okay. Well let me ask the question another way, then.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: Well, would ... would a bank underestimating its exposure to an individual borrower by €1 billion-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: -----would that be something you'd want to address first?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: Okay. Would that still be possible today? Would it still be possible for an inspector-----