Results 10,601-10,620 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: And, just to confirm or to clarify, this new structure came in, or this new arrangement came in when ... this meeting of principals?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: And, this group then ... this, kind of, cross between the DSG and what would become the FSSG, was it ever involved in discussions ... we spoke with Mr. Cardiff yesterday about, you know, possibly preparatory work in case Ireland was to find itself outside of the euro, a unit preparing papers, scoping papers, was it ever involved in that work? Were you aware of that work?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: Were you aware that the contingency was being looked at in the Department?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: But you were aware of this?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: Okay. As it happens I'm running out of time so I have to move to my next question. But, on dividends, because we had this in evidence from Mr. Neary, when he was in with us previously, in 2008 €1.2 billion in dividends was paid out to shareholders by the Irish banks, banks later be guaranteed in September, and so that, that liability effectively came onto the taxpayer. Did the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: Why would the domestic standing group be discussing the possibility of legislation that would give that power to the regulator in 2008 if he already had it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: You wanted to specify the-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: Okay. Just the final area I want to look at-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: And you're not aware of Mr. Neary making an effort to try to stop them to pay out the dividends?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: He said he didn't have the power, but he didn't, yes. My final question is in relation to aggregate debtor concentrations across the banking sector because the Central Bank didn't pick up on these prior to the crisis. So, was this due to information deficiencies in the Central Bank's management information centre, is it due to a lack of regular monitoring and do you now have the systems in...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: But, just on that five-by-five debtor connections which you wrote about-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: Yes, very good, Chair. You wrote about in your report, in the Honohan report, and you talked about the high-level priorities and the medium-level priorities, and one of the medium-level priorities that was found out was that in one of the banks they didn't realise that one of their debtor's exposures to another bank was worth more than a billion. They had it at a couple of hundred million...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: Okay, thank you. Thank you, Chair.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: Thank you, Chair, and thank you, Governor. Just two brief questions. When the former chairman of the regulator was before us, Mr. Patterson, he talked about in the 1990s, I think 1995, the sectoral risk concentration levels being, what was the word, "relaxed" to attract a large foreign bank into Ireland and then, as a result, in order to apply fair treatment, the standards were relaxed for...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: Thank you. And my last question in relation to NAMA, because in your story of 2010, NAMA comes up quite a bit. The, you know, announcements of the haircuts in March, then again in September. And each time you mentioned them, the prospect of a bailout comes closer into view. So was the work of NAMA delayed, and if NAMA had moved more quickly, are we then talking about bailout negotiations...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: Was work delayed? Was there a delay with NAMA moving through in its work?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: Thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: Thank you, Chair, and thank you, Governor. I just want to pick up on that area of discussion that we left off on before the short break. And it's in relation to your role then when it actually came to negotiation, when it came to that period of time in 2010. Because you talk in the book, In Calm and Crisis... you wrote a chapter on Brian Lenihan about the Deauville declaration and how,...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: It was done.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: It seems clear that the ECB was in favour of Ireland entering a programme from September of 2010. But, was that ever communicated to you from Mr. Trichet or the board, that we think, the ECB, that Ireland should apply for a programme?