Results 1,861-1,880 of 6,295 for speaker:Michael D'Arcy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: Funding and Liquidity, 3.1, "The single biggest strategic mistake the Bank made, in common with a large number of banks throughout the world, was to become over-reliant on wholesale funding to grow its loan assets particularly outside its core franchises". That document is contrary to what you're saying was the biggest mistake. Could you ... if you see it there, Funding and Liquidity, 3.1.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: On that same page, Mr. Boucher, it says that the amount of the reduction in wholesale funding is €69 billion that the bank were using. Was it a €69 billion mistake?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: Okay, can I just move on page 35 in the same document and it's a line that I use with Mr. Goggin, in all the Bank of Ireland documents a term cropped up continually and that was to protect the franchise. Are you aware of the term that was used?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: And on page 35, where there is an assessment of your competitors and the fourth paragraph on that page, we are discussing the 100% mortgages that we discussed earlier and other products, we're discussing "hero" products. Was Bank of Ireland's 100% mortgage a hero product? Fourth paragraph, page 35-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: You-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: Did it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: Can I----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: But did protecting the franchise overrule the risk?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: Mr. Boucher, you've presented before the finance committee previously and the question of moral hazard has been raised with you and in terms of debt forbearance, has your position in Bank of Ireland altered at all in terms of debt forbearance?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: Okay and that was up to 2013, from 2013 to date-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: The question I'm asking-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: Okay, can I ask, Mr. Boucher, in terms of debt forbearance for corporate write-down including in our terms of reference which is to end of 2013-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: Did Bank of Ireland provide corporate write-down debt forbearance for corporate entities within the terms of reference of today's hearing, which is to the end of 2013?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: Have you done debt forbearance?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: Has there been any write-down with Bank of Ireland for corporate entities?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: And can I ask you, Mr. Boucher, how you reconcile the moral hazard that you use in terms of the mortgage-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: Final question - that in terms of the mortgage, no debt forbearance versus what you have done for corporate debt forbearance-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: First time I've ever been called "McD'Arcy". Thank you, Chairman, Mr. McCarthy. Thank you for coming in. In terms of the Government guarantee ... and you're out of banking now for a number of years and you've the benefit of hindsight and the benefit of where we've come from to where we are today, Mr. McCarthy. Do you think the bank guarantee was a good idea?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: No, but you ... you were a national banker and you would have-----