Results 4,021-4,040 of 6,295 for speaker:Michael D'Arcy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael D'Arcy: Were yours on the back of an envelope?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael D'Arcy: Things were going bananas. Why then would ... was you ... would ... did you not, as a member of the domestic standing group, not insist, as potentially the most senior non-academic economist in the State ... certainly as the senior economist within Central Bank ... why did you not insist on a much, much more rigorous stress test?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael D'Arcy: I know. I'm not-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael D'Arcy: I was asking about the domestic standing group, yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Thank you, Chairman. Mr. Neary, you're very welcome.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Mr. Neary, given the extraordinary losses by Irish banks and financial institutions, did the Financial Regulator's office fail the people of Ireland?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Can I ask you, in your opening statement, where you outline where the Financial Regulator's office required higher ratios than were requested ... if we required higher ratios, how then was our crash so much worse than any other financial jurisdiction in Europe?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: In your response to the Chairman you said that the Financial Regulator's office, and this is your quote, were responsible for "financial soundness" of individual institutions.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: And in the ... in the years '01 to '08, in evidence on a number of occasions, the figures that we have quoted to witnesses in relation to the growth of AIB was 30% year-on-year increase, compound, Bank of Ireland, 29% year-on-year increase, compound, Anglo had a similar rate of growth. Why wasn't action taken to slow down the growth of the property bubble earlier, especially in the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Sorry. Can you just clarify that for me, Mr. Neary, please? You're saying that your role was the financial soundness of the institution. But you felt - the regulator's office, not you individually - that the growth rate was too high. It wasn't for you to tell, or raise the matter with, the Central Bank. It was a matter, via guidance of section 33D, that they raise it with you. Is that...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: If you could clarify that, please, because-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Can I put it to you, Mr. Neary ... we've had AIB, Bank of Ireland and Ulster Bank in, and they've all made the point that while they had access to their own data of their ... people who they had lent money to, to particular developers, and to a particular sector. One of the things that they did not have access to was the consolidated data, that that was a matter for your ... for the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: You didn't. Mr. McLaughlin made the point about Anglo Irish Bank, a mono-line bank. The figures that were given were 82% commercial real estate sector, 1% residential, 17% corporate lending. And that bank had nothing to do ... had 1% residential, and yet that bank cost the taxpayers of this State €30 billion or thereabouts. What I'm asking you, Mr. Neary, is why, with the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Why did you not request that information? Why did you not impact upon that sector?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Is it not your role as regulator to ensure that the sector is stable, and if the numbers had gone beyond the limits, which they did on a number of occasions?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: What about the commercial real estate sector? As a general.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: 250%?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Is that not the role of the Financial Regulator's office to be clear on what was, .... was that not your role?