Results 5,941-5,960 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Eoghan Murphy: It's not indicative of you de-prioritising retail deposits.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Eoghan Murphy: No, okay. In terms of the risk associated with that increased share from the wholesale market, were you aware of those risks? Were you ... is it something that would be in front of the board on a regular basis about this increase?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Eoghan Murphy: It's is not me.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Eoghan Murphy: Sorry. Thank you. Just, staying on this page and just moving down in that paragraph to the sentence, ''The Group's position was highly precarious in 2008 due to its high level of short term funding and therefore its high loan to deposit ratio.'' Do you accept that? That that's why the group found itself in a precarious position in 2008?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Eoghan Murphy: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Eoghan Murphy: Okay. And you accept ... do you accept that that happened because of this change in the mix of funding and this - what it says at the opening of the paragraph - "aggressive" move in the lending, to grow the lending book using the wholesale markets?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Eoghan Murphy: Okay. Thank you. Just then, related to that but slightly moving aside, is the stress testing that would have happened then, as you embark on this new strategy or you see the wholesale markets and the potential that they offer. What kind of testing were you doing against this new source of funding in case of a downturn, in case the markets were then closed to you - a particular market...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Eoghan Murphy: Who are you referring to, sorry?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Eoghan Murphy: Mr. Gantly hasn't appeared yet.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Eoghan Murphy: I was confused.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Eoghan Murphy: If it's not a deliberate strategy then does it happen by accident? Is that the implication?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Eoghan Murphy: Okay, but the funding plan then was it a strategy, then, to-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Eoghan Murphy: I mean, it was deliberate. You made these decisions.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Eoghan Murphy: Sorry, when did that work begin? The working out-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Eoghan Murphy: In 2003. And it continued right on until you left?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Eoghan Murphy: Okay. I mean ... looking back, then, was it complex enough to deal with the actual funding mix that you had and the different types of investments and the different type of lending?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Eoghan Murphy: Okay, thank you. And then just in terms of the loan-to-deposit ratio of the group, you found yourself in a more difficult position or a more precarious position than other entities in the system. I mean, how does that happen for the group?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Eoghan Murphy: Okay, and just to clarify, sorry, you shared your stress tests-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Eoghan Murphy: Did you share your stress tests results with the regulator? Was this work passed to them or was it something you kept in house?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Eoghan Murphy: So you did say in your statement that you thought the regulator's ... was unbalanced in their approach to the banking sector.