Results 5,861-5,880 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Eoghan Murphy: Thank you. Can I just ask then about the final returns or the sectoral returns, which, in each of the years from '04 to '07, you were exceeding the sectoral limits - the 200% of own funds and the 250% of own funds. So, what was the regulator's response to this when that was raised with you?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Eoghan Murphy: Lumpy?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Eoghan Murphy: Between '04 and '07, he never came back to you?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Eoghan Murphy: And the board was satisfied that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Eoghan Murphy: Just sorry, to clarify, the board was satisfied that you were in breach of the limits in those years.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Eoghan Murphy: Just to clarify finally, you don't agree with the Honohan report either. Is that correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Eoghan Murphy: Sorry-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Eoghan Murphy: That's what I heard-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Eoghan Murphy: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Eoghan Murphy: Thank you. Thank you Chair.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Eoghan Murphy: Thank you, Chairman, and thank you, Mr. Walsh. You're very welcome. Did you see Brendan McDonagh's evidence to the committee?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Eoghan Murphy: Because he said that his view on the night of the guarantee was that the society was insolvent - "a broken institution" he called it. So what did you make of that or, if this is the first time you are hearing it, what do you make of that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Eoghan Murphy: Okay, just to clarify that, essentially you think that the interaction that you had with the NTMA at the time contradicts the evidence then that Mr. McDonagh gave us in terms of his view at the time.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Eoghan Murphy: Okay, thank you. If I could then move on to the Project Harmony report. From 2003 to 2006 the society's loan book trebles-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Eoghan Murphy: The loan book trebles from €3.4 billion to €10.7 billion, driven mainly by commercial lending, as you know.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Eoghan Murphy: Yes. Given the facts in the Harmony report and what we have seen about there not being a highly developed approach to risk assessment or a sophisticated information system, I mean, is that growth rate prudent or sustainable?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Eoghan Murphy: "Interested in buying the society" but let's look at this idea of prudence. I mean, if they're saying that you do not have a highly developed approach to risk assessment, how can you judge the risk or a prudent decision?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Eoghan Murphy: Why would the report note this then? Why would this be picked out an issue?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Eoghan Murphy: Okay. So the relevance of those points, as in Project Harmony, relate to if the buyer decides to diversify out of what you see as a very simple banking function up to that point in time.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Eoghan Murphy: Okay. The final area I want to look at in the limited time I have is coming back to the regulator. Because one of the titles ... subheadings in your written statement is "Lost Opportunity". You talk about the society reversing the engines before any other institution. So, when you decided to make that ... when you made that decision in December 2007 and the regulator at the time was doing...