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Committee of Inquiry into the Banking Crisis: Context Phase (28 Jan 2015)

Michael D'Arcy: That is not being done at the moment.

Seanad: Irish Collective Asset-management Vehicles Bill 2014: Second Stage (3 Feb 2015)

Michael D'Arcy: I welcome the Minister of State. I am not sure that there are many experts on the subject matter of this legislation in this or the Lower House. I am certainly not one. It is a complicated area and significant legislation is required in a fast-moving world. It is important that I put the €2.85 trillion in context. We used to talk in millions before moving to billions. Now we are...

Seanad: Irish Collective Asset-management Vehicles Bill 2014: Second Stage (3 Feb 2015)

Michael D'Arcy: I can.

Seanad: Irish Collective Asset-management Vehicles Bill 2014: Second Stage (3 Feb 2015)

Michael D'Arcy: At 10.30 a.m. tomorrow.

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Michael D'Arcy: I welcome Professor Black. With regard to the bank guarantee, Professor Black used the analogy "the worst own goal in history" when referring to subordinated bonds being paid. Was the game fixed against the Irish nation by external players?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Michael D'Arcy: How did the own goal happen? Specifically, I ask Professor Black to address the external factors of the own goal for subordinated bonds.

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Michael D'Arcy: What is Professor Black's opinion on the intervention of the then US Secretary of the Treasury, Timothy Geithner, in regard to subordinated bonds being paid as well?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Michael D'Arcy: Am I correct in saying that savings and loan institutions in the US equated to the building societies here?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Michael D'Arcy: Can Professor Black expand upon the parallels between savings and loan and what happened in Ireland and how they affected the overall banking scenario in Ireland?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Michael D'Arcy: We are discussing traditional banking and how the traditional banking sector ended up where it has ended up in Ireland. Can I ask about the newer models because Professor Black said he wants to look to the future, and we also want to look to the future? I refer to the newer models of banking such as equity funds which operate in all but name as a bank with their investment in commercial...

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Michael D'Arcy: I welcome Mr. Nava and thank him for coming. What was the ultimate sanction for a bank which did not meet the capital requirements?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Michael D'Arcy: Who withdrew the licence?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Michael D'Arcy: Did any bank have its licence withdrawn under the initial Basel directive of 2000?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Michael D'Arcy: Of how many banks which had their licences withdrawn is Mr. Nava aware?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Michael D'Arcy: What reasons would there be for the withdrawal of the banking licence apart from not meeting the Basel requirements?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Michael D'Arcy: Into CRR.

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Michael D'Arcy: Does Mr. Nava's role involve analysis of the ratings agencies?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Michael D'Arcy: Do they come under the entire section Mr. Nava operates?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Michael D'Arcy: Do the big four auditing firms come under Mr. Nava's section?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Michael D'Arcy: Banks complained that they had to allocate too many staff to adhere to Basel rules, particularly Basel II. Were they reasonable?

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