Results 4,421-4,440 of 6,295 for speaker:Michael D'Arcy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: The question I'm asking-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: Okay, can I ask, Mr. Boucher, in terms of debt forbearance for corporate write-down including in our terms of reference which is to end of 2013-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: Did Bank of Ireland provide corporate write-down debt forbearance for corporate entities within the terms of reference of today's hearing, which is to the end of 2013?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: Have you done debt forbearance?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: Has there been any write-down with Bank of Ireland for corporate entities?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: And can I ask you, Mr. Boucher, how you reconcile the moral hazard that you use in terms of the mortgage-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: Final question - that in terms of the mortgage, no debt forbearance versus what you have done for corporate debt forbearance-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: First time I've ever been called "McD'Arcy". Thank you, Chairman, Mr. McCarthy. Thank you for coming in. In terms of the Government guarantee ... and you're out of banking now for a number of years and you've the benefit of hindsight and the benefit of where we've come from to where we are today, Mr. McCarthy. Do you think the bank guarantee was a good idea?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: No, but you ... you were a national banker and you would have-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: Okay and, I suppose, the same question in relation to NAMA, the establishment of NAMA?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: In terms of the numbers from the national Exchequer from the British Government for RBS, £46 billion was provided for RBS. Ulster Bank, the figure I had was €14.3 billion, you said €14.9 billion, but it was in that territory. Ulster Bank's ratio of RBS was, you know, the figures I have '07, 3%, '08, 2%, '09, 3%, '10, 3%. It seems like a very large quantity of the funds...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: One third of the overall moneys from the national Exchequer of the UK that went into RBS found their way into Ulster Bank.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: Okay, and can I read a quotation to you please, "For all those who say investment banking is this evil thing, as a terrible activity which lost all the money, the most money that RBS lost, the least wise decisions, were property lending in the UK and Ireland, of which Ireland was worst of all." That came from Mr. Stephen Hester, RBS boss. Do you think that is fair?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: February 2012.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: Can I ask, Mr. McCarthy, the 100% loan to value of mortgages, they were available from First Active prior to Ulster Bank making them available?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: Was there an international dimension or did you take the provision of 100% mortgages from another jurisdiction? When did the idea come up initially? I'm not talking about the First Active, was that on your watch in First Active or was it before that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: And did you take it from an international ... or from some other jurisdiction and say this could work here?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: Okay. The terms, the loans that were offered and the terms offered to borrowers which were outside the normal commercial terms that were available from your institution made during your period as CEO. Can you identify why this happened or how it was allowed happen? The exceptions rather than the rule.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Michael D'Arcy: Can I just bring to your attention just a follow on, document UBI, Vol. 2. And it's a report form the Financial Regulator June '06 and attached to the report is page, go to page 13. And the letter that's attached to this shows ... the letter is page 3 but there is an appendix attached on page 13. And I think it's out of 61 files inspected 46 had some form of an exception deficiency and...