Results 3,701-3,720 of 6,295 for speaker:Michael D'Arcy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Michael D'Arcy: Was William Beausang in the room and was he asked that question also?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Michael D'Arcy: He was not. Was the ... there was an e-mail between William Beausang and yourself. You ... the e-mail was shared to you from Brendan McDonagh, the question of the impact on the Irish sovereign, I think it was 26 September. Was that e-mail, was it-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Michael D'Arcy: I don't have the reference but it was 26 September, Chairman, from Brendan McDonagh. The question went from William Beausang to Brendan McDonagh in relation to the impact on the sovereign of a full Government guarantee.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Michael D'Arcy: It is.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Michael D'Arcy: You got it, thanks.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Michael D'Arcy: You remember that one?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Michael D'Arcy: And was ... were people in the room, given the information on the impact of the sovereign rating, that it would cost the State for a Government guarantee, via that e-mail in question, the view of the NTMA?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Michael D'Arcy: You're ... the Minister-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Michael D'Arcy: No, I'm aware of that.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Michael D'Arcy: You're ... the ... on the same date, document DOF-01731, which is the Merrill Lynch strategic official document to the NTMA, on ... sorry ... this is William Beausang's-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Michael D'Arcy: You've a good memory, Mr. Cardiff. The SLS scheme that was being considered, and it says, "a qualification from Merrill Lynch, Anglo had...". Can I ... I assume I can read this, Chairman? This isn't section 33AK protected? I don't think it is anyway.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Michael D'Arcy: Okay. Well, I didn't get a chance, sorry about that.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Michael D'Arcy: The Merrill Lynch strategic document to the NTMA, strategic options, 26 September 2008.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Michael D'Arcy: Yes it is, yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Michael D'Arcy: Yes. Qualification, Mr. Cardiff: Anglo has €3.3 bn of loans on the watchlist. A 10% fall in commercial property value would result in an additional provision of €7 bn. €23 bn liquidity deficit by the end of the year. Additional €17 bn of liquidity expected to be lost once information becomes public. Total €40 bn. I mean, those are startling...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Michael D'Arcy: Do you know who advised the Minister to make that statement?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Michael D'Arcy: Pardon?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Michael D'Arcy: But I assume he would have discussed it with senior officials, prior to the speech being made on the floor of the Dáil.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Michael D'Arcy: I don't want to be-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Michael D'Arcy: Yes, no, that's ... no, that's ... no, that's fine, I just wanted to know was it discussed with senior officials.