Results 3,341-3,360 of 6,295 for speaker:Michael D'Arcy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Could I ask, Mr. Murphy, in terms of push back - it's a term that we've become used to here - was there push back from your board, or were you specifically hired to ensure that these actions could be put in place?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: And your chairman was?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Can I ask you in terms of one individual within an organisation or financial institution, can one individual have that much authority to do an about face in terms of the direction that an institution had previously been going in?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Mr. Murphy, on page six, half way down your opening statement you say on the third bullet pointon the second number of bullet points: Pursued strategy of managing down commercial book: To aid this process, I employed a number of commercial property lending professionals, closed regional lending offices and improved controls by consolidating operations into a more centralised operation. ...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Sorry just be.... how much was in commercial lending prior to that? Did the EBS start from zero?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Not an alpha stock?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: But can I ask in terms of ... you say it was ... you consolidate operations into more centralised operation.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Were there loans being approved regionally, or smaller amounts being made available to less senior directors? Can I ... I suppose what I'm trying to scope is ... it's quite simple to understand what a centralised operation is, perhaps in one venue with a number of individuals, but where did you come from to get to there?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: To be clear, Mr. Murphy, you said there was no chief risk officer. How could €1.7 billion worth of a loan book have been increased form zero without a chief risk officer?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: No, I understand that, but most institutions would-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Sorry.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Mr. Murphy, Senator Barrett stated you were one of the few who survived the cull and now that you're one of the most senior people in AIB. Are you - and when I say "you" I'm speaking about executive bankers - are you overpaid in this country?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: And who should the two pillar banks be benchmarked against?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: There's only two of you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Thank you, Chairman. Mr. O'Flynn, you are very welcome and you're good to stay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Banks were under increasing pressure due to the competition within the banks to offer incentives, such as non-recourse loans, interest-only roll-up, lower interest rate margins, interest holidays and the like. In your experience, were such practices common among Irish banks? And if they were, did the situation differ between Irish banks and banks, non-Irish banks, banks from outside of the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: And did the non-Irish banks in ... banks from other jurisdictions accept personal guarantees as sufficient collateral?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: As a business or a profile of a major construction development company grew, did you observe a relaxation in the lending criteria?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: You discussed NAMA earlier, Mr. O'Flynn, the €42 billion discount. Could you speak further in relation to that in terms of ... I'm not asking you about your own personal business; what I am asking is what is your understanding about how the State gets back, some, all of that €42 billion?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Sorry, Mr. O'Flynn, Minister Lenihan told us very clearly during the NAMA debates, that the discount would stay with the borrower, would stay ... and that the banks ... while the money-to-par value that was transferred to NAMA ... that the borrower would still be on the hook for the discounted amount or loan.