Results 10,561-10,580 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Okay. Without ... and this is the very ... this is the very last thing-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Without naming names, or banks, or institutions, was there ever an instance that you would consider serious, that you were dealing with a bank on, that their retort was, "Leave it to me. I'm dealing with so-and-so"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Okay, thanks.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Thanks very much and welcome, Mr. Horan, and thanks for being here. In your written statement you mention your proposals for regulatory intervention were put forward in 2006. You also say that concerns at the Central Bank senior management levels about the impact, the potential impact of it. And it also mentions the desire to temper what was perceived as the appetite for heavy...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Yes, okay. You mentioned also in your statement a formal proposal in August 2005 to introduce measures to address high loan-to-values ... "the proposal met resistance from senior management of the Central Bank and was shelved". Subsequent to your appointment as prudential director, you implemented the same proposal, which then met with a rebuke by the chairman of the FSICP, as you mentioned...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: So it was a timing thing, as opposed to a "Look, we're not going there".
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: And did that go ... was that a decision by your direct line director, as you say, the prudential director at that time, or did it go to the board, or Governor----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: The seventh floor we were hearing about earlier, is that where all those guys hang out?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Okay ... we're not allowed use names, are we, Chairman?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Yes, well, we might go back-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Can you comment on the solvency protection measures in force, and taken before and during the crisis, and the stress-testing exercises carried out with the financial institutions?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: And other solvency protection measures which were in place or in force?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: And, I mean, what was the regulator's view on the deterioration of properties' values and what implications did that have on the assessments in terms of stress tests? Did that come into it, the fact that property values were declining from, kind of, late 2006?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Were there no further ones, no?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Yes, well, what's your involvement with them then? Had you have an involvement with the stress tests?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: And would the concerns that you had to the extent that you were, you know, raising corporate governance provisions and raising loan-to-value issues and so on up to that date ... I mean, were you happy that these assessments could be accurate, on the basis that your suggestions had been rebuked by your own definition?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: We had been listening earlier to Mary Burke's testimony, and she spoke about resources particularly and said that requests for resources were endorsed by you as her line director, as prudential director, but rebuked higher up. Would you be in a position to outline for us who was responsible for refusing that request and why, in your view, that took place?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: And is that specific to the bank supervisory department?