Results 4,161-4,180 of 6,295 for speaker:Michael D'Arcy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: Should they have?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: With hindsight, should they have? With the benefit of hindsight?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: Mr. Hurley, the credit sector concentrations and prudent underwriting standards in the banks were also important to financial stability. Do you believe there was adequate discussion of the breaches of lending policies and sector risk concentration and limits at board meetings of the CBFSAI?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: Did you respect it too much? Should you have delved further?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: The policy tools that were available ... the effective instruments available to deal with the excessive credit growth and the sector risk concentration, can you access the use ... and the use of these instruments?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: The policy tools, the quantitative controls, qualitative controls ... that you could have ... the Central Bank could have requested to be used, I assume via the Financial Regulator.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: The Central Bank-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: No, I'm not ... I'm sorry, I'm not talking about the compiling of a financial stability report. What I'm asking about, the powers that were available to you and I quote document Vol. 1 ... Vol. 1. of the core documents, page 3, from the letter from the current Governor of the Central Bank, Professor Honohan, that there were powers available and tools available to the Central Bank Governor,...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: With hindsight, should you have?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: You knew the risks-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: You knew the risks, you itemised the risks in the financial stability reports from '04, '05, '06 and '07. But you ... what you said was you did not foresee ... sorry ... "The Bank emphasized downside risks to the banking sector but it did not foresee the dramatic consequences that flowed from the interaction of the international financial crisis with our domestic vulnerabilities." The...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: In conversation with the Financial Regulator's office, you said you worked well together.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: Were you aware that the overall financial stability of the entire sector was at risk?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: Can I ... in Vol. 1, from page 134 onwards where the FSR reports are available, so these are public documents they're not protected by section 33AK-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: 134 onwards. Your photograph is on the very start of all of them.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: And as you said earlier, they were agreed with the Central Bank.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: And the Financial Regulator. Can I just ... I'm just going to take one aspect of those, and I'm using that as domestic risk.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: 134, but it's from there onwards, the FSR reports.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: It's 134 onwards, Chairman, and I've done analysis of the personal indebtedness, Mr. Hurley. In '95, it was 71% of the GDP of the nation. I'm only going to use three figures, please; '06 it was 192% of the personal ... of the GDP of the nation; and on page 182, on the right hand column, in '07 it says: "The overall level of indebtedness could reach 248 per cent of GNP by end [of] 2007...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Michael D'Arcy: That's sound? We were now ... They were now ... The Irish people were now the most indebted-----