Results 4,741-4,760 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Thanks very much and thanks gentlemen for being here. Can I ask you can you advise to the extent of discussions you had with management of the financial institutions regarding the collating of arrears, information on non-performing loans and interest roll up at certain-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Understood. Where did I lose you there gentlemen?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Do, yes, for security.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Will I finish the question? I was saying that there's the arrears issue, non-performing loans obviously, and the level of interest roll-up on certain facilities and the percentage representation of interest roll-up on the overall book.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Was all management in the various institutions forthcoming? Were they happy to see you and three bags full, whatever you needed or were they obstructive andlaissez-faireabout the pace at which they sought to help you?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Okay. Did you seek to understand the material ... the number of material loans by clients that were restructured in advance, say, in the period up to 2008?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: So there was no analysis done then of, for want of a better expression, the deterioration of loan quality?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Okay. In all your engagements and you mentioned various meetings where all these agencies were in the room and so on - the Minister for Finance was at most, the Taoiseach was at one - who chaired those meetings?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Did the Minister speak much or listen?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Okay. Did the Taoiseach make any interjections at the meeting he attended?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: He just listened. Okay. Was there any agenda being pushed by the chair or by the politicians that were present at various meetings?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Okay. Was it a sense that look, "We're all in here to try and come up with", as you in your own words, "we're going to have one chance at this, let's get it right", and that there ... was there an openness around that so there was no agendas from any quarter, was there?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Okay. Was there any indication that the view of the room or the consensus in the room was being passed by a higher authority, say, in the ECB or the EU Commission or ... was that discussed or mentioned at any stage by anybody?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Yes, like, what system? I mean, in terms of "Let's guarantee, let's not guarantee, let's have a partial guarantee, let's issue more shares", I mean, what's the system that you have to go through for the ECB?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Well that's more the Commission that the ECB, isn't it, in terms of state aid?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: To get it through, that's ... I understand that from a state aid perspective and that would be the Commission but was there any view that apart from the state aid aspect, that ... was there any ... "God, you know, the ECB won't wear that" or, you know, a suggestion that maybe the ECB had particular expectations and particular views about how these ... about the outcome of what was going on in...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Okay. You said to Deputy McGrath earlier on that there was no examination ... that it wouldn't typically be expected of auditors or it wouldn't be kind of best practice to go into the kind of cross-collateralisation of individual loans and to assess that, for example, the equity that you thought that was there and now it wasn't there because, you know, that just isn't the done thing in terms...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: No, but it ... just ... I think that maybe you should, and I think the Chairman alluded to this, would you say that some of the recommendations to be considered by this inquiry should be that, look, really, you know, auditing is ... one of the lessons of this whole process is auditing of the focus of organisations like yourself that operate to the highest standards of the day need to change...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: And would you say that there's a need then in legislation to put an onus on financial institutions or individuals to declare such things in the future?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Okay. Thank you very much.