Results 7,961-7,980 of 27,945 for speaker:Michael McGrath
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: Had the banks been let go, would there have been some losses for depositors?
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: Professor Connor attributed blame to bank managers for engaging in risky lending. In Ireland, the term "bank manager" tends to mean branch manager. Could Professor Connor clarify to whom he referred?
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: Professor Connor mentioned "bank managers".
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: I am giving him the chance to clarify it.
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: Professor Connor cited the massive inflow of foreign debt capital as the main cause of the banking crisis and said the Financial Regulator and Central Bank had the powers to prevent it. Looking at the history of the years leading up to the crisis, when should they have acted? When was the evidence clear that they should have intervened?
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: If, during the meetings of 29 September and the early hours of 30 September 2008, the Government had said the problem was potentially too big for it and contacted the ECB to seek a temporary line of credit, an extension of ELA, to keep the banks afloat so it could assess their true health, would such support have been forthcoming?
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: Professor Connor stated that the net foreign borrowing of the Irish domestic banking sector was 88% of Ireland's GDP in the third quarter of 2008. Did this represent a financial stability risk to the country at that time?
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: Should it have featured in the financial stability reports from the Central Bank?
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: Professor Walsh is very welcome. Given that we are talking so much about disclosure, I will ask him a question about his position that jumped out at me. He is described as the PwC professor of accounting in UCD. What is the role of PwC in his title?
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: Is the amount donated on the record and public?
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: Is the right to have the position named the PwC professor indefinite as a result of the donation 15 years ago?
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: I am not suggesting anything improper but just want to have all the facts out in the open given that Professor Walsh is giving evidence to this inquiry. Did the auditors of the banks in Ireland, during the years 2004 to 2006, inclusive, form the view, and during the course of their work, that the banks were following an unsustainable model? Did they think there were huge concentrations of...
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: Would a disclosure of that nature have been entirely voluntary?
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: Did the auditors have any duty, under accounting standards or law, to report concerns about the overall sustainability of the model being pursued and the concentration of risk to the regulator or the Central Bank?
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: Has Professor Walsh formed a view as to whether the auditors of the main banks in Ireland, during the 2003 to 2007 period, fully met their legal obligations? Has he formed any view on that matter?
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: Of course.
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: In regard to impairment provisions, clearly on a bank's balance sheet the liabilities are clear in terms of the accuracy of the figures but the real issue is the value of the assets. Does the professor agree that is where the variability and risk might lie?
- Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)
Michael McGrath: Are impairment provisions for loans related to specific loans? The professor did not speak about impairment provisions but that at the level of the individual loan, one must make a judgment as to whether an impairment should be booked against that loan. Is that how it works or it is more general?
- Written Answers — Department of Finance: Tax Compliance (26 Feb 2015)
Michael McGrath: 59. To ask the Minister for Finance if he will provide details of any Revenue Commissioners compliance initiative, in respect of expenses claimed by self-employed persons and pay-as-you-earn employees; the number of such cases investigated in 2014; the number of ongoing investigations; if he will provide details of the tax assessments that have resulted from such investigations; the number of...
- Written Answers — Department of Finance: Parliamentary Questions (26 Feb 2015)
Michael McGrath: 60. To ask the Minister for Finance if he will arrange for the detailed replies to Parliamentary Questions Nos. 248, 249 and 250 of 20 January 2015, to be forwarded, as indicated in the initial reply. [8564/15]