Results 8,741-8,760 of 27,945 for speaker:Michael McGrath

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael McGrath: And the guarantee provided that liquidity.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael McGrath: Can I just ask about the issue of a four-bank guarantee, because your testimony and that of Mr. Gleeson is quite consistent on that issue? You had the clear impression that a four-bank guarantee was being considered, not a six-bank guarantee. On what basis did you have that impression? The only direct reference in the notes you took on the night is to Mr. Hurley, for example, saying it was...

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael McGrath: That was to get it to the weekend. That was your understanding.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael McGrath: You say, again in the notes you took on that night, that you felt ... the view that AIB took in relation to Anglo and presumably INBS was of being closed down, nationalised or put into some sort of run-off position and ring-fenced from the rest of the institutions. They are all very different things in some respects. What were you saying should have happened to Anglo and INBS in your view...

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael McGrath: Even with the guarantee of your liabilities, could AIB have survived a disorderly wind up of Anglo? If Anglo had been allowed to collapse the following day and you had a Government guarantee for the four banks, how do you think that would have played out?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael McGrath: But Anglo was allowed to fold.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael McGrath: So the outcome in your view is unclear or not in that scenario?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael McGrath: Okay. Mr. Buckley, can I ask you what was your view on the earnings and EPS growth targets set by the board of AIB, given the maturity of the market? I refer to AIB B1, Vol. 1, pages 43-55, which is a board paper from a seminar. If you wish to comment on that issue - the earnings and the EPS growth targets that were set.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael McGrath: Of your tenure, yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael McGrath: Mr. Sheehy, you made reference a few minutes ago to taking a voluntary reduction in your pension. Do you wish to reveal to the committee what your annual pension from AIB is?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael McGrath: Okay. Do you wish to confirm the figure?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael McGrath: €250,000. And the amount of the voluntary reduction that you took? If you wish to reveal it.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael McGrath: Okay. And you took a reduction from the level that ... that you would've been contractually entitled to, is that the case?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael McGrath: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael McGrath: Sure.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael McGrath: Sure. Mr. Buckley, do you wish to reveal your annual pension from AIB?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael McGrath: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael McGrath: And the non-disclosure requirement provides that you can't disclose the amount of the reduction, is it? Or that you can't disclose your-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael McGrath: -----pension?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael McGrath: Thank you.