Results 10,881-10,900 of 27,945 for speaker:Michael McGrath
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Michael McGrath: Yes-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Michael McGrath: But no role in actual lending decisions.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Michael McGrath: The board pack that you would have received as a member of the board, what would that have contained typically in advance of a board meeting?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Michael McGrath: And-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Michael McGrath: Sure.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Michael McGrath: And would details of credit decisions ... would the credit committee minutes-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Michael McGrath: -----for example, have been included?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Michael McGrath: Yes. But the risk committee had full oversight in terms of information of-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Michael McGrath: -----the extent of property lending.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Michael McGrath: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Michael McGrath: What percentage of Anglo's loan book was ultimately property-related?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Michael McGrath: You spoke earlier about land and development being in the region of 26% and that's evidenced in the books. The major category of loans that Anglo presented were investment. And as I understand it, when a loan was provided for a development, once the development was completed, that loan was transferred into investment from land and development. So, ultimately, of Anglo's loan book, what...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Michael McGrath: Over 90%?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Michael McGrath: Thank you very much, Chair. I'd like to welcome Mr. Dukes and Mr. Aynsley and if I can start with you, Mr. Dukes, and take you to the decision in February 2013 to liquidate the bank. Can I ask your view now of that decision and whether you believe that greater value would have been achieved for the State if the orderly wind-down of the bank as decided previously, if that had been...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Michael McGrath: Can I raise the issue of the acquisition of the loans, Mr. Dukes, by NAMA, and Mr. Aynsley referenced this. The discount in the end was 61%, almost €21 billion of a loss crystallised immediately onto the books of Anglo-IBRC. Can you just clarify in terms of the valuations placed on those loans by NAMA, was the bank in a position to challenge any of those valuations or was it a very...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Michael McGrath: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Michael McGrath: Sure.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Michael McGrath: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Michael McGrath: There wasn't a negotiation.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)
Michael McGrath: By any means.