Results 81-100 of 174 for nama speaker:Eoghan Murphy

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Eoghan Murphy: Thank you, Chair. Mr. Parlon, I just want to go back to a meeting that Deputy McGrath raised earlier, it was in relation to NAMA on 28 September 2009. It's page 15 in the core booklet. This is a meeting between the CIF with the Department of Finance and the NTMA. On top of page 15. You were there representing the CIF as director general at the time, but you had a number of colleagues...

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Eoghan Murphy: ...to the first paragraph then, on pre-establishment issues, you queried whether the Central Bank letter issued in May was still in effect. Now this was a letter and we've been through it with NAMA already that stated: "where additional funds were lent to [borrowers] following the announcement to establish NAMA, a haircut would not be applied on these amounts provided funds were lent on a...

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Eoghan Murphy: So, members were finding it difficult to secure working capital but they did secure working capital. NAMA told us that they secured €2.3 billion in working capital in that period but if they decided that roughly half of this was not eligible under the Central Bank scheme, that the money wasn't advanced for commercial purposes - roughly half, about €1.1 billion, so what was it...

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Eoghan Murphy: But NAMA concluded that €1.1 billion wasn't advanced to these borrowers for commercial purposes, it wasn't eligible under the scheme and you had lobbied for this money to be released.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Eoghan Murphy: Given what NAMA has told us since then, that €1.1 billion was advanced and wasn't eligible, should you have lobbied for that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Eoghan Murphy: ...come back to what we were discussing earlier about this dedicated property unit that you established in 2004. When you look now at the PwC Project Atlas report, and you look at what happened with NAMA, do you view the setting up of that unit as a mistake for the bank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Eoghan Murphy: Okay, thank you. I just want to move to some of the evidence NAMA gave us when they were before us in relation to how NAMA debtors and the banks were managed once NAMA was announced. And one of the things that NAMA told us was that the extent to which NAMA, the banks, sorry, were collecting income from things like office blocks or shopping centres where the banks themselves ... that was not...

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Eoghan Murphy: Advances made to debtors once NAMA was announced that eventually went into NAMA. NAMA found that 17% of advances made by Bank of Ireland were not for commercial purposes and so were not repaid by NAMA, were not eligible under the scheme announced by the Central Bank at the time.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Eoghan Murphy: I missed the first part of that, Mr. Boucher. Sorry, you think that NAMA has repaid some of that money since ... of the 17%-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Eoghan Murphy: NAMA faced a problem though later on to the tune of €26 million for properties and lenders where the security wasn't as secure as it should have been, and-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Eoghan Murphy: Okay, thank you. I will move on then please, Mr. Sheehy, in relation to NAMA's evidence to us last week. They gave us evidence on the extent to which banks were tending to collect income that was going to the debtors and not to the bank once the crisis began - about rental income from office blocks, from shopping centres - and this was in the millions. They gave us two figures. They said...

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Eoghan Murphy: What does it tell us about the impairment on the loans that were transferred to NAMA ... that the greater impairments were on the lower level of loans, the lower in terms of value?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Eoghan Murphy: Thank you, Chairman. And thank you, Mr. Duffy. I still have a few questions in relation to NAMA, if I can. When you came into the bank, NAMA had just finished ... or was in the process of finishing the transfer of loans from AIB into NAMA. So did you review their work over that previous 12 to 20-month period?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Eoghan Murphy: So you had to establish a relationship with NAMA.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Eoghan Murphy: NAMA in their evidence raised two issues with us in relation to what they discovered from the loans when they brought them across from the various banks, and one was as the crisis hit, the extent to which banks were attempting to collect income, it was going to debtors and not the banks, so rental income from shopping centres or office blocks in the millions, and they gave us two figures -...

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Eoghan Murphy: Okay. The other issue I raised was in relation to advances to debtors by AIB, once NAMA was announced, until the loans were acquired by NAMA. The Central Bank had said that it would be acceptable if NAMA deemed those advances to have been made on a commercial basis. So, this is to the debtors that are moving into NAMA from AIB and AIB advanced €595 million in that period but only...

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Eoghan Murphy: Okay, they drew our attention to this quite particularly ... that AIB had been told that it could advance money to debtors that were transferring to NAMA as long that money was advanced on a commercial basis. And when NAMA did its review, it found that only 62% of that had been advanced on a commercial basis - 62% of €595 million, so the amount that was eligible was €367...

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Eoghan Murphy: And NAMA didn't bring this to your attention when you took over as CEO?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Eoghan Murphy: No, okay. Thank you. Just now to look back at NAMA then since the beginning of its operation. One of the questions and one of the things that we've heard through previous testimony is about a possible delay in establishing NAMA. Was there a delay, from when it was first signalled to the first tranche being completed?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Eoghan Murphy: Whether it's a delay or not. let's just say that time lag between certainly the intention to set up NAMA and the first tranche being passed, did that favour people who owed the banks money?