Results 3,321-3,340 of 6,295 for speaker:Michael D'Arcy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Michael D'Arcy: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Thank you, Chairman. Mr. Murphy, you're very welcome.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: You have considerable international experience and experience, indeed, in financial crises in other jurisdictions. Could I ask your opinion in relation to the market's view from late 2007 that the reason the Irish banks' share price was collapsing and, indeed, the liquidity crisis for the Irish banks and the Irish financial institutions was worse here than in others ... the Morgan Kelly view...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: So do you disagree with Mr. Nyberg who said that the crisis was primarily homegrown?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: I think you have disagreed with him.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Thanks.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: On the night of the guarantee, Mr. Murphy, please, what was your assessment of the liquidity versus solvency of the society that you were CEO of at that stage?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Corporate?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Corporate.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Can I ask, Mr. Murphy ... it was reported that you were of the view that a five-year guarantee should have been put in place. Is that report correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Do you think that influenced the decision to extend the CIFS legislation into the ELG?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: But you did espouse that view to the Department of Finance-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: In November '08 the treasury department looked for an increase in the lending lines to the other covered institutions in order to invest in their unsecured debt and to have them reciprocate. This was the green jersey. To what extent, in your view, did your board consider as appropriate to participate in the green jersey thought process?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Can I ask you, Mr. Murphy, if you were aware that the NTMA were unwilling to place deposits into some Irish financial institutions?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: In April 2011 the Government decided to sell your society to AIB for €1. Did you agree with this move and did your board have any alternatives beyond the €1 sale?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Can I ask you Mr. Murphy, you spent a lot of time with Rabo, a AAA-rated institution considered conservative and solid? The EBS, from your opening statement, changed its business model. From previous evidence from other institutions, they changed their business model at a similar time, around '01, '02. And in that period, I don't know the exact number for EBS but AIB, Bank of Ireland and...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: On page 3 of your opening statement, your full written opening statement, you itemise 11 actions. Those are pretty substantial actions, Mr. Murphy. Was that another change in the business model of EBS?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Can I just ask about those 11, are they 60%, 70% of the alterations, 80% or would they-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: As best.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Are other actions.