Results 11,241-11,260 of 27,945 for speaker:Michael McGrath
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Would that have been a significant factor?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Sure.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Sure, it's just one measure but, in nominal terms, were the level of deposits broadly stable or were deposits rising over the period in question ... let's say, those key years '06- '07?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: As I said, you have two elements to that measure - you've loans and you've deposits. Were the deposits ... in nominal terms, what was the pattern?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: I know that.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Costs were growing but----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: What was the main mistake that was made? Was it the over-reliance on wholesale funding?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Where would you rank that then with ... alongside, say, credit decisions and the quality of lending?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: I know it was the confluence of a number of factors that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: -----crystallised the whole thing in the end but, in terms of the decisions that were made by ILP, the factors that were within your control, how would you rank-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: -----the mistakes that were made?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Michael McGrath: Thank you very much, Chair. You're very welcome, Mr. O'Connor and Mr. Walsh. Can I just take you back to the first engagement that you had with the regulator in September 2008? Can you advise the committee when PwC was first approached and by who? And what reason were you given for being contacted at the time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Michael McGrath: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Michael McGrath: Okay. So the meeting happened the following day following the initial contact. Was there any procurement process involved for the appointment of PwC?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Michael McGrath: Okay. And can you comment if you were requested for any input into the scope and specification of the engagement or was this provided to you by the Financial Regulator at the time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Michael McGrath: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Michael McGrath: Sure, and were there a number of drafts of the letter of engagement between the regulator and your firm?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Michael McGrath: Okay.