Results 3,361-3,380 of 6,295 for speaker:Michael D'Arcy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Sorry, the discounted amount that you didn't bring into NAMA, that was with the banks, is the money I'm discussing.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: What I'm trying to explore is the discounted amount that wasn't transferred into NAMA that remain on the banks' balance sheets, that the developers are ... had borrowed ... the full value. Will the State see any of that money?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Sorry, the loans were ... the full loans were €74 billion. NAMA were ... paid the six covered institutions €32 billion.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: There was a discounted amount of €42 billion.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: The money is lost to the banks.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Yes, I'm aware but will the State get the money back is what I'm trying to ask?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: True. Mr. O'Flynn, Mr. Dan McLaughlin, chief economist with Bank of Ireland ... I'm not sure if you saw any of his evidence?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: He stated very clearly that there was a commercial real estate sector that damaged the banking sector more than anywhere else and he itemised the ... Anglo Irish Bank as being the most expensive to the State, costing over €30 billion. And he also stated clearly that and the documents that we've had at our perusal stated that Anglo Irish Bank was 82% commercial real estate, 1%...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: You stated previously, Mr. O'Flynn, that the international dynamics were the biggest factor. Is that ... would I be correct in assessing that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: The global.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Those macro influences were in other jurisdictions?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Nowhere else had the same banking crisis ... same banking crash like ours. Did you explain that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: But, Mr. O'Flynn, sorry. Just to make ... the €64 billion was 1.5 times the national debt of the nation. The UK's banking crash wasn't 1.5 times ... the equivalent of the national debt of the UK.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Michael D'Arcy: Thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Michael D'Arcy: Thank you, Chairman. Mr. Gallagher, you're welcome. Who were the most experienced, most capable people dealing with the markets and finance in the State from the public sector side?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Michael D'Arcy: Why do you think the representatives from the NTMA were called to Government Buildings and then left outside the room?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Michael D'Arcy: Okay. Thank you. The markets had come to a position in relation to the liquidity in relation to Irish banks. The Morgan Kelly theory is that it wasn't anything to do with the US sub-prime, or the freezing of the liquidity markets, that it was a matter that the markets had decided that the exposure to property, in particular commercial real estate, that the Irish balance sheets of financial...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Michael D'Arcy: Can I ask, Mr. Gallagher, you've quoted the term "one shot at it".
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Michael D'Arcy: This was said on the night. The deposit guarantee scheme went from €20,000 to €100,000, a fivefold increase. Was there over-exuberance in terms of the attempts to deal with matters? Very few deposit guarantee schemes were increased by fivefold internationally. And then, just to follow on from that is, was there an over-exuberance in relation to banking, in relation to...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Michael D'Arcy: To your knowledge, did any other jurisdiction guarantee every bank within its boundaries?