Results 2,981-3,000 of 6,295 for speaker:Michael D'Arcy

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: While potentially morally wrong to do so, was it considered?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: It was never discussed?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: And who gave those instructions?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: And was that a matter of a decision that you made or was it discussed with you by senior other executives within Anglo Irish Bank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: But who instigated the policy of not using it? Was it yourself or was it other senior executives?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: And did you have that conversation with other executives?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: You did?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: You did. And everybody was agreeable with that, was it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: During your time on the board as a senior executive in '06-'07, did you ever express any concerns to other members regarding the bank’s increased concentration of risks, assets in the commercial property sector?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: You were an experienced banker, Mr. Fitzgerald. Should you have considered those matters or raised them at the board level?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: I suppose where I'm coming from, Mr. Fitzgerald, is you had a large number of staff underneath you. Your job was to get ... to look after the retail deposits-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: And the corporate deposits. And did you ... a term that is being used is "silos". Were you siloed? Did you only consider that and never offer other opinions to other executives within the bank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: You were aware of the extent to which Anglo Irish Bank was a monoline bank.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: Were you aware that the figures that we've had presented to us was ... were, upon analysis, prior to the guarantee ... 82% of Anglo Irish Bank was made up of commercial real estate lending, 17% corporate, much of which was attached to the commercial real estate, and 1% residential. Were you aware of that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: And were you satisfied at that stage that it was ... you used the term "prudent" ... that that was a prudent banking model?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: Not now, but back then.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: Sorry, at what stage did the crisis hit do you... in your view?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: Would you consider yourself somebody who is well-informed about what the market was saying about your institution - Anglo Irish Bank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: And in terms-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael D'Arcy: Did RBS not have a market note in relation to Anglo Irish Bank being monoline and that it was not systemic to the Irish sector? Were you aware of that market note?