Results 4,641-4,660 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: -----to go in and to find something like that in a bank in Ireland today, such an underestimation?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: Thank you Mr. O'Connell, you're very welcome. Could you just give the committee an understanding, Mr. O'Connell, of how senior you were in the Central Bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: Who did you report directly to?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: Okay. So you were quite senior in the Central Bank.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: But you weren't on the board. Were you still privy to board papers, though?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: To what end would these minutes or these reports have come to you for comment, for agreement?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: Okay. And then when it came to ... kind of, to drafting or signing off key external communications from the bank - a financial stability report, a pre-budget letter - were you central to those ... to the preparation and signing off of those documents?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: So, if someone want to make a change to something that you had drafted, would that have to come back to you for approval? Would final wording of a document have to come back to you for approval?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: Okay and in terms then ... if you look at something like a financial stability report, and the engagement between Central Bank and the regulator on preparing those reports, after 2004, from previous evidence we've heard, responsibility fell more to the Central Bank. Why was that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: It is fair to say, then, when it comes to the 2007 financial stability report, that the Central Bank is the key player in drafting that report?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: And are you key in the Central Bank to drafting that report?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: Well, looking at the 2007 report, house prices are beginning to fall but the 2007 stability report favours a soft-landing scenario over a hard landing. Why?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: I'm hearing, Mr. O'Connell, analysis behind how you answered that question but Professor Honohan, in his report, stated that there was no analytical evidence provided in support of this key conclusion. That's on page 84 of his report. So how was it reached?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: How do you then decide you would include this language?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: Let me put this again, sorry. You say in your opening statement, talking about the financial stability reports, that the overall assessment in tone which reflected the views of the two boards tended to be reassuring and you imply that this was in contrast to the main body of the financial stability reports, which would you have drafted. So what are you saying there? Did that language come...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: And did you object at the time?
- 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: You mentioned in your opening statement that it was a question of tone and you've just said there ... there said editorial but Honohan also notes in his report, on page 83, in relation to the estimates of house price overvaluation said had appeared in financial stability reports ... results of models estimating overvaluation were presented in successive financial stability reports "up to and...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: That's probably the research study then that was deleted from the 2007 financial stability report.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: So who made the decision to delete it?