Results 9,721-9,740 of 27,945 for speaker:Michael McGrath

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Michael McGrath: But can I put it to you, Mr. O'Reilly, that, you know, according to the evidence from Cyril Roux yesterday, principles-led regulation doesn't necessarily have to be non-intrusive, that it doesn't have to be light-touch, as such. Could principles-led regulation have been implemented better by the authority during the years in question?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Michael McGrath: But is it the case that principles-led regulation could have been done differently, that it could have been more aggressive, it could have been more intrusive?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Michael McGrath: Did you ever request resources and were refused?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Michael McGrath: Governor Honohan, in his report, reached a central conclusion in relation to regulation and he said: ... a regulatory approach which 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. It ... meant that corrective regulatory...

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Michael McGrath: I'm sure you do.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Michael McGrath: But I suppose, Mr. O'Reilly, people sometimes get frustrated when the word "system" is used. You know, there are people in a system. People operate a system. People are responsible for a system. People can change a system.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Michael McGrath: So, you know, is it adequate to blame the system?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Michael McGrath: Okay. And with the full benefit of hindsight - looking back now - what could you have done during the years that you were the Financial Regulator-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Michael McGrath: -----with the powers available to you at the time?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Michael McGrath: What could you have done which might have----

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Michael McGrath: -----changed the outcome?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Michael McGrath: When exactly did those administrative sanctions become available? Was it 2005?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Michael McGrath: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Michael McGrath: Just to clarify, when exactly were sanctions against banks on your desk and available for use?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Michael McGrath: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Michael McGrath: So they weren't available at all during your tenure?

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Michael McGrath: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Michael McGrath: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Michael McGrath: But you didn't request additional resources.

Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)

Michael McGrath: And can you comment-----