Results 10,801-10,820 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Eoghan Murphy: And you're worried about it. You make a statement, it fails to convince them.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Eoghan Murphy: What then?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Eoghan Murphy: Taking all that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Eoghan Murphy: -----and taking that the consumer regulation-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Eoghan Murphy: -----of course, is underneath the Financial Regulator, if we go back to 2003, in July, you wrote to Bank of Ireland after doing an examination into their mortgage lending policies and you said "The examination raises questions about the maintenance of lending standards in your institution, and about your ongoing monitoring, management, and control of risk in relation to residential mortgage...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Eoghan Murphy: That was July 2003. It was a letter to Bank of Ireland.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Eoghan Murphy: 2003.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Eoghan Murphy: Yes. Thank you, Chair. But just coming back then to 2004.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Eoghan Murphy: And in the 2004 financial stability report-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Eoghan Murphy: -----you also raised concerns about commercial property lending: "The persistent increase in the rate of lending to some parts of the commercial property sector is a concern." At that very moment in time, Bank of Ireland had set up a dedicated property unit responsible for managing relationships with a total group exposure in excess of €30 million, to write higher risk-higher return...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Eoghan Murphy: Did you raise this with Bank of Ireland in the round table in 2004?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Eoghan Murphy: Were you aware-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Eoghan Murphy: Okay. But were you aware that at the same time as you were warning about these risks, banks were making moves in relation to commercial property lending that were going in the opposite direction of what you were warning against?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Eoghan Murphy: Thank you, Chairman, and thank you, Mr. Patterson. I just wanted to clarify a couple of things briefly from your opening statement and from the testimony we've already heard today. Just on page 3 of your opening statement, when you talk about the Central Bank's mandate, part of it being to develop the financial services sector. And you say, ''While the Regulator legally had no similar...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Eoghan Murphy: Was this discussed within the Financial Regulator?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Eoghan Murphy: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Eoghan Murphy: Assumed, okay. So no conversations with the CEO about whether or not he should be spending time attending certain meetings or presentations.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Eoghan Murphy: Okay, thank you. Just further down on that page and responding to what Deputy McGrath raised with you in relation to your powers ... so that first point there that you have no powers, per se, of approval or disapproval over the banks' products like 100% mortgages. Did you have the power?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Eoghan Murphy: Levers through the banks, in terms of?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Eoghan Murphy: Was any of this discussed at the time, on the board or with the CEO?