Results 9,421-9,440 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Okay. The Nyberg report states: INBS’s overarching driver [and I touched on this earlier with you] was demutualisation and sale. This was frequently expressed by management, the Board and INBS members and was expected to result in a cash windfall for all parties. As the value of INBS would dictate the size of the windfall, it is noteworthy that the bank’s most significant...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: The Project Harmony report states: The overall approach to risk assessment would not be described as highly developed given that the group continues to rely heavily on the managing director, does not have sophisticated IT systems and operates across a limited range of products. The modus operandiwould be described by management as fit for purpose, particularly given the degree of board...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Earlier we heard from Mr. Walsh, the then chairman ... and following a KPMG report recommending that a series of improvements needed to be made such as on the whole area of corporate governance and there were a number of them including the independence ... to assure the independence of directors and to ensure that the board in terms of reference and so on and we put it to him that,...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: -----look, everything is going well so-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: -----there’s no need to fix anything?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Did you ever know about the existence of a No. 3 account that was specifically for-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: What was it for?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: And what was it for?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Political donations?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Was it ever ... on those 60 occasions ever to give anybody a dig out, for want of a better expression?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Okay. In a letter dated March 2008, regarding the inspection of commercial property lending exposures, the Financial Regulator states the following under the heading "Credit Risk Management": The Financial Regulator has raised issues relating to INBS' risk profile and credit risk management over a number of years. Our letter of 9 December 2004 set out our concerns regarding the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: So, to your mind, any issues raised were dealt with to the fullest extent. Is that correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Okay. Just two-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Just on that, and two very final questions, and we'll have covered all of that ground then, Chairman. You mentioned in your report, and I am conscious that I don't want to get into a particular area and the Chairman will stop me if I am going offside, you mentioned that your view as to why other financial institutions weren't the subject of investigations in the Central Bank. Can I ask how...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: And how would you be?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: I know, but I mean you yourself weren't cognisant until 9 July or thereabouts so how would you be cognisant about other financial institutions?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Okay. So just to be clear, to the best of your knowledge but you don't know.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Marc MacSharry: Okay. Very finally, do you feel, and I asked this of Mr. Walsh as well, do you feel that throughout your career in INBS that there has been an unfair focus by the regulator and Central Bank on the INBS and its activity?