Results 4,601-4,620 of 6,295 for speaker:Michael D'Arcy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Michael D'Arcy: Professor Black that Deputy Higgins quoted, he had a term that he used that was crucial for lending, which was ... it's not a very academic term but it was, "grow like crazy", and when he was asked what was "grow like crazy", in terms of percentage growth, he said 30% was reckless. The expansion of the loan book of AIB for property in construction averaged 29% per annum, and that was in the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Michael D'Arcy: Do you now?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Michael D'Arcy: It is.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Michael D'Arcy: Simon Carswell, in his book, Anglo Republic, page 55, stated that there was a win-back team in AIB. I can only assume it's within your sector, to win back-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Michael D'Arcy: Yes. Was there a win-back team in AIB?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Michael D'Arcy: And were those three people ... were they senior executives or mid-ranking?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Michael D'Arcy: Can I ask you, Mr. Forde, your ... you spoke a lot about the credit risk within the sector, within the institution, and they seem very much at arm's length away from yourself as the senior manager in terms of the retail sector of AIB in the Republic of Ireland. Was there any ... you also said that you did phone people in terms of deposits ... you made some phonecalls.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Michael D'Arcy: Okay, but was there any occasion ... I suppose what I'm coming at is: it seems very pure, it seems very straight lines in terms of the independence of each sector. Was there ever an occasion that you saw a loan that you thought was-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Michael D'Arcy: You didn't look at them at all. They were-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Michael D'Arcy: Were there occasions that you thought-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Michael D'Arcy: But, sorry, were some of those cases that you looked at, were there occasions that you thought that this is over-the-top lending, this is very generous, that potentially there may be a problem?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Michael D'Arcy: Were there occasions that potentially the credit officer would have said, "No," that you would have requested-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Michael D'Arcy: -----sight of?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Michael D'Arcy: Jim O'Leary, in 2004, it's been touched upon earlier, in relation to a director who had concerns about property and construction-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Michael D'Arcy: -----subsequently, 2007, Alan Ahearne had concerns that property in construction was overvalued by 30%. Were you concerned at any stage during your term that with the increase of the balance sheet that there was a significant overexposure within AIB for property and construction?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Michael D'Arcy: Your ... and just very quickly as my time is running out, the Mercer Oliver Wyman report in 2007 were ... was that part of your group's ... your sector's requesting them to come in and present a seminar to AIB.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Michael D'Arcy: A presentation, yes. Can I touch upon the solvency issue, Mr. Forde. PwC were requested by the Financial Regulator to conduct analysis into the banks. The project was called Project Atlas. They took the evaluations from within the banks and presented them to the Financial Regulator. You were there until February 2009, the report was presented to the Minister around that stage. Were you...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Michael D'Arcy: Were you ... were you contacted in relation to the valuations or anything of that nature?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Michael D'Arcy: You weren't.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Michael D'Arcy: At any stage?