Results 10,441-10,460 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Marc MacSharry: Would he have been aware of this?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Marc MacSharry: And would it have had his blessing?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Marc MacSharry: Okay, so what we have is, post-2005, when we do have a clear set of rules and we do have a clear set of sanctions, you are saying that due to lack of resources, they were never enforced.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Marc MacSharry: The Governor would have been passively aware of this, as a minimum, and we assume from what you are saying, has not objected to this-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Marc MacSharry: -----and this is all down to resources, but when the Governor was in with us he told us that no request for resources was ever turned down by the Department of Finance, as Deputy McGrath has been saying earlier on. So, what was the problem?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Marc MacSharry: We understand that from earlier on, and the committee decided that they needed 70 staff, and there was a difficulty in recruiting staff, but we could have gone international, whatever else. I mean, was it never said to the Governor or to the Department of Finance or onward from that remuneration and budgeting committee "We need more resources, we need more money and whether you have to go to...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Marc MacSharry: It wasn't a question of competitiveness on salaries, for example, was it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Marc MacSharry: I have a very short time, I've got the answer. Did ... can you say ... were the limits that you were imposing to say "Okay, well we can't pay any more than X so therefore-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Marc MacSharry: -----we can't attract Y"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Marc MacSharry: And finally, a brief question. Mrs. Burke yesterday would have referred to, and this was touched on by both Deputy Phelan and Deputy McGrath, in the context of executives from banks regularly being in around the building, and they not knowing what they were there for. She also made reference to the fact that, in dealing with her duties in liaising with a bank, occasionally the bank...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Marc MacSharry: Or your other colleagues at that level.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Marc MacSharry: Thanks, Chairman, and good afternoon again, Mr. Neary. I'm sticking to the list now, Chairman, but it's very similar to the question you just asked so at the risk of being repetitive. As a regulator at the time was your opinion of the usefulness of the simulation exercise and what outcome-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Marc MacSharry: ----came as a result?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Marc MacSharry: But specific to the crisis that came, I know that the idea of being prudent about the future is good but, in the light of what came, was it worthwhile, was it useful, was it valid or was it futile, with hindsight?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Marc MacSharry: So, in effect, it wasn't very useful?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Marc MacSharry: Okay. Who was responsible for creating and updating the stress test scenarios?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Marc MacSharry: And how would you rate them in terms of the effectiveness for predicting the bank failures?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Marc MacSharry: And would the lack of ... of what we were talking about this morning, the enforcement on the prudential side have contributed to that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Marc MacSharry: Well, I know that ... we all know the entirety. We are going through this ... tedious as it is for everybody-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Marc MacSharry: -----the individual component parts so------