Results 10,841-10,860 of 27,945 for speaker:Michael McGrath
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Michael McGrath: No, okay. So you had the various layers-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Michael McGrath: -----there with committees, and ultimately that fed up to Mr. Merriman from the finance ... as finance director.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Michael McGrath: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Michael McGrath: Okay. So your involvement in risk in 2005 and 2006, that didn't involve any input into the risk assessment of the credit strategy or of loan applications, for example.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Michael McGrath: So what risks were you responsible for assessing?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Michael McGrath: Right.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Michael McGrath: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Michael McGrath: What was the role of the credit risk committee?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Michael McGrath: Right. And did the credit risk committee have an input into lending decisions?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Michael McGrath: Okay. I suppose what I am trying to understand is, you know, when a bank is assessing risk and you have a risk function-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Michael McGrath: -----and the various annual reports, you know, do consider the issue of the risk of lending strategy, for example, I'm talking about, across the different banks and what I am trying to understand is how that becomes part, then, of the consideration of lending policy, how that feeds into lending policy and there doesn't seem to be any direct correlation.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Michael McGrath: Okay. Senator Barrett already asked you about the tracker mortgage interest rate risk-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Michael McGrath: -----and I think you addressed that issue, that you weren't on the board, that you had no input into that or assessing the risk from that. Just finally, Ms Clarke, you were with EBS since 1991 you said.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Michael McGrath: So you experienced EBS as a traditional mortgage lender-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Michael McGrath: -----as a mutual owned by members and then you were there as it morphed into something entirely different. To what do you attribute that? What are the main causes of that transformation of the model of a building society into, effectively then, a lender to, you know, commercial property and development in land?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Michael McGrath: What are the main causes, in your view, and how much weight do you attach to the emergence of new entrants to the Irish banking sector and the role that they would have played? Just give us your ... because you've a unique insight, having been there really throughout. What were the main driving factors that led to that change?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Michael McGrath: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Michael McGrath: Led by the Irish banks or led by the foreign banks who came in?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Michael McGrath: And the fear was then "We'll be left behind, we have to join the game".
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Michael McGrath: Thank you.