Results 3,101-3,120 of 6,295 for speaker:Michael D'Arcy

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: Yes, please.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: By the executive.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: Was it Mr. Fingleton?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: Mr.-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: Purcell. Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: And can you clarify for me, please, would he have put that without the knowledge of Mr. Fingleton?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: I have asked him and I will ask Mr. Purcell afterwards and I am asking you would it be likely Mr. Purcell would bring that to the board without the knowledge of Mr. Fingleton?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: Okay. You'd be surprised.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: In your opinion, was the relaxation in the lending criteria appropriate, particularly given the Financial Regulator's ongoing concerns regarding commercial property, lending control and risk management within the society?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: Mr. Purcell, you're welcome. During the period '01 to '03, INBS increased its level of commercial lending by over 60%. This was a source of concern for the regulator that the society did not have the appropriate skill sets or controls to place ... in place to effectively manage this level of exposure and this level of increase. By September '08, 80% of INBS's loan book was in commercial...

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: Was it appropriate?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: It was "not inappropriate".

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: And the level of growth ... Mr. Bill Black - I am not sure if you heard it - when he attended here some months ago said that anything over 20% was dangerous per annum growth.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: A lot of institutions were pushing closer to 30%.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: Did you feel it was excessive?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: Were you aware of the risks that were attached to that level of growth?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: Did you keep within those ratios?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: The land and development sectors ratios?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: Many?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Michael D'Arcy: And did you understand that they were not guidelines?