Results 9,521-9,540 of 27,945 for speaker:Michael McGrath
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: But, Mr. Neary, is that not like bringing a suspect before a criminal court and the court doesn't have the option of sending the person to prison. And they're released back onto the street and what will they do? They will reoffend because there's no sanction.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: We had evidence yesterday from Mary Burke, who was the head of banking supervision from 2006. Under questioning she said "we were not able to pursue administrative sanctions cases because of a lack of resources." Is that accurate?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: The request for additional resources by Ms Burke in May 2008 was supported by her immediate superior, Mr. Con Horan, but was not ultimately implemented. Where did that fall down?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: No. It's in her own ... it's in her statement yesterday, Mr. Neary.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: No, it was yesterday's evidence.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: Mr. Horan indicated that the issue went to the remuneration and budgeting committee---
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: ---of which you were a member?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: Do you remember this particular case, Mr. Neary?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: And what happened?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: Six.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: Mr. Neary, whatever about the ability to actually recruit people, was the request for six additional staff by the head of banking supervision in May 2008 sanctioned or not?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: Fully sanctioned?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: Mr. Hurley's statement that any requests for additional resources by the Financial Regulator was never refused. Is that accurate?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: It was the ability to recruit.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: Okay, so do you believe that you fulfilled your duty under section 7 of the 2003 Act, where you as chief executive, had the same power as the board to appoint employees, as you considered necessary, for the effective performance and exercise of the functions and powers of the bank in each of its constituent parts?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: Did you fulfil that duty?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: Mr. Neary, can I put to you some of the central conclusions of Professor Honohan in his official report on the regulatory approach? He said:It was and was perceived to be excessively deferential and accommodating, insufficiently challenging and not persistent enough. It meant not moving decisively and effectively enough against banks with governance issues. Corrective regulatory...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: On a general assessment of principles-led supervision, Mr. Neary, it is an assessment of your application of regulation during your tenure; that's what it is.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: But, Mr. Neary, where in the principles-based regulation does it say that the regulator should not move "decisively and effectively ... against banks with governance issues"? Where does it say that the regulator should be "excessively deferential and accommodating", that the regulator should be "insufficiently challenging"? Where does it say the regulator should "not [be] persistent...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: Mr. Neary, how would you describe your professional relationship with the Governor of the Central Bank, John Hurley, during your time as CEO of the regulator?