Results 19,981-20,000 of 27,945 for speaker:Michael McGrath

Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)

Michael McGrath: Professor Connor cited the massive inflow of foreign debt capital as the main cause of the banking crisis and said the Financial Regulator and Central Bank had the powers to prevent it. Looking at the history of the years leading up to the crisis, when should they have acted? When was the evidence clear that they should have intervened?

Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)

Michael McGrath: If, during the meetings of 29 September and the early hours of 30 September 2008, the Government had said the problem was potentially too big for it and contacted the ECB to seek a temporary line of credit, an extension of ELA, to keep the banks afloat so it could assess their true health, would such support have been forthcoming?

Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)

Michael McGrath: Professor Connor stated that the net foreign borrowing of the Irish domestic banking sector was 88% of Ireland's GDP in the third quarter of 2008. Did this represent a financial stability risk to the country at that time?

Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)

Michael McGrath: Should it have featured in the financial stability reports from the Central Bank?

Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)

Michael McGrath: Professor Walsh is very welcome. Given that we are talking so much about disclosure, I will ask him a question about his position that jumped out at me. He is described as the PwC professor of accounting in UCD. What is the role of PwC in his title?

Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)

Michael McGrath: Is the amount donated on the record and public?

Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)

Michael McGrath: Is the right to have the position named the PwC professor indefinite as a result of the donation 15 years ago?

Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)

Michael McGrath: I am not suggesting anything improper but just want to have all the facts out in the open given that Professor Walsh is giving evidence to this inquiry. Did the auditors of the banks in Ireland, during the years 2004 to 2006, inclusive, form the view, and during the course of their work, that the banks were following an unsustainable model? Did they think there were huge concentrations of...

Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)

Michael McGrath: Would a disclosure of that nature have been entirely voluntary?

Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)

Michael McGrath: Did the auditors have any duty, under accounting standards or law, to report concerns about the overall sustainability of the model being pursued and the concentration of risk to the regulator or the Central Bank?

Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)

Michael McGrath: Has Professor Walsh formed a view as to whether the auditors of the main banks in Ireland, during the 2003 to 2007 period, fully met their legal obligations? Has he formed any view on that matter?

Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)

Michael McGrath: Of course.

Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)

Michael McGrath: In regard to impairment provisions, clearly on a bank's balance sheet the liabilities are clear in terms of the accuracy of the figures but the real issue is the value of the assets. Does the professor agree that is where the variability and risk might lie?

Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)

Michael McGrath: Are impairment provisions for loans related to specific loans? The professor did not speak about impairment provisions but that at the level of the individual loan, one must make a judgment as to whether an impairment should be booked against that loan. Is that how it works or it is more general?

Income and Living Conditions: Motion [Private Members] (24 Feb 2015)

Michael McGrath: I welcome the opportunity to contribute to his debate. I welcome the fact that Deputy Boyd Barrett and the Technical Group have put down the motion to trigger a debate on a number of important issues relating to income inequality, poverty, the public finances and the future economic development of this country. I regret that I cannot support the motion, although it is well-intentioned and...

Written Answers — Department of An Taoiseach: Economic Management Council Meetings (24 Feb 2015)

Michael McGrath: 171. To ask the Taoiseach if he will provide a list of dates the Economic Management Council has met with the banks operating here; if he will provide the issues discussed at each meeting. [7939/15]

Written Answers — Department of Social Protection: Pension Provisions (24 Feb 2015)

Michael McGrath: 197. To ask the Minister for Social Protection the position regarding compensation payment to former staff of a company (details supplied) in respect of their pension scheme; when payments will be made; and if she will make a statement on the matter. [7962/15]

Written Answers — Department of Social Protection: Pension Provisions (24 Feb 2015)

Michael McGrath: 198. To ask the Minister for Social Protection if her attention has been drawn to any other double insolvency pension schemes, whereby compensation will be payable to former members; if she has estimated the potential liability to the State in such circumstances; her plans in this regard; and if she will make a statement on the matter. [7963/15]

Written Answers — Department of Finance: Tax Rebates (24 Feb 2015)

Michael McGrath: 239. To ask the Minister for Finance if a refund of income tax will be granted to a person outside of the normal four-year rule, if the overpayment of tax arises due to an error on the part of the Revenue Commissioner's by including income in the wrong spousal column, on the P21 balancing statement; and if he will make a statement on the matter. [7989/15]

Written Answers — Department of Environment, Community and Local Government: Seniors Alert Scheme (24 Feb 2015)

Michael McGrath: 567. To ask the Minister for Environment, Community and Local Government if senior citizens groups which administer the monitored alarm scheme can also apply to administer the carbon monoxide scheme and the smoke alarms scheme; the way in which they may apply; and if he will make a statement on the matter. [7671/15]