Results 3,921-3,940 of 6,295 for speaker:Michael D'Arcy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: So just to be very clear, developer X had a billion with bank A, developer X had another billion with bank B and your staff never collated that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Were you surprised when the information came out that 19 lenders within NAMA had €22 billion worth of loans?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: But it would have started in your period, the build-up?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Okay. Thank you, Chairman. What changes would you have introduced, going back to that period? What would have been the two major changes that you would have introduced into the model of regulation and enforcement?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Again, just to conclude, Mr. O'Reilly, Vol. 2, page 36, there's a letter to you from Michael Buckley, AIB chief executive. Is this allowed to be shown, Chair? This is not allowed to be shown. Section 33AK. It should be in front of Mr. ... page 36, yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: It's a letter, yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: And the letter is December '03.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: I put to Mr. Buckley, during previous testimony ... I asked him was the risk appropriate for his period as chief executive officer of AIB and he felt it was. Can I ask ... put that question to you, as the regulator, for all of his period of ... as chief executive of AIB.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Mr. O'Reilly, just one point. The principle-based regulation within our jurisdiction was the same as the principle-based regulation in other jurisdictions; is that correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: We weren't as ... as-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Okay. Well, can you explain why, in our jurisdiction, the debt ratio between what the banking collapse cost this State, in comparison to our GDP, was a multiple times other countries'?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: No, why? Why was it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Yes, when you had the same-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: -----principle-based approach.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Just to finish off that line of questioning, Mr. O'Reilly, was it not the standard of the loan book was the real issue for the Irish banking sector?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: The assets on-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Thank you, Chairman. Mr. Patterson, you are welcome. I'm glad to see you're healthy and well.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: Can I ask you to look at Vol. 1 of your documents, page 19? Yes. And I'm just looking at the members of the board. There are ten people there. Of the ten members of the board, how many of them had financial and regulatory knowledge or experience?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: So, half the board did and half the board wouldn't have had any.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael D'Arcy: And, with hindsight, was that a wise selection of the board?