Results 4,041-4,060 of 6,295 for speaker:Michael D'Arcy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Did you take the opportunity?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Mr. Neary, can I move on please?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Can I ask, Mr. Neary, in relation to the FSR reports, you participated in the FSR reports?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: You participated?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Yes, I want to raise the issue of personal indebtedness within banking. In 1995, the percentage of personal indebtedness to the GDP of the nation was 71%; in 2006, it was 192%, according to the FSR reports; in 2007, the predicted figure, according to the FSR report, was 248% of GNP. The original figures I quoted were GDP. What was going to be the outcome, Mr. Neary, when...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: But, Mr. Neary, are you aware of the many people who are before the courts at the moment as a result of the failure to control their personal indebtedness?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: One of the statutory objectives of the Financial Regulator was the promotion of the financial services industry in Ireland. Did the objective affect the prudential role in the Financial Regulator?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: In terms of the usage of the powers that were available to you-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: The sanctions, Mr. Neary, that were available to you ... you'll allow me that time, Chairman, I take it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: The sanctions that were available to you, Mr. Neary, in terms of dealing with financial institutions, did you use those sanctions or did you use your powers? Did ... what I'm talking about are quantitative controls ... did you ever use quantitative controls in relation to sanctioning a bank who had gone beyond particular sector limits?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: What about the control limits?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Did you-----?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: It never happened?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Mr. Neary, in your opening statement, under the term "Regulatory Strategy", you state:The strategy also set down the objectives of the authority. One of its objectives was that its regulatory approach would facilitate innovation and competitiveness. You subsequently discussed the White Paper entitled Regulating Better, issued by Government, and you state: "I [can] understand [that]...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Are you saying you weren't a detached, strong regulator, or you were?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: In hindsight, Mr. Neary-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: With hindsight, Mr. Neary, the shareholder value in the banks, €29 billion lost; €35 billion to €40 billion share ... or funds from the State of this Republic injected; another €20 billion from the UK injected into banking sector in Ireland. Should you have been a strong, detached regulator?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: With hindsight, with hindsight?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: Should you have been?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael D'Arcy: My final question-----