Results 10,841-10,860 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Marc MacSharry: No, it can't be reframed to that. In fairness.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Marc MacSharry: Well I'm not letting anybody away. But I mean like, the reality is, I'm not asking him to name any clients at all. What I'm saying is, you said that you sought the ability to ... you said you had a legal obligation first of all to report, but you didn't have a facility to report. So you sought that, and it was given in 2009. All I'm asking is, did you ever use it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Marc MacSharry: Did it change after 2009?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Marc MacSharry: Do you feel that the report issued to the Financial Regulator provided them with enough information to enable them to discern the full regulatory position of the group?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)
Marc MacSharry: Thank you very much, and thanks gentlemen for being here today. Yesterday when we had Cormac McCarthy and I asked why was there the need for 27 registered companies between Ulster Bank here in the Republic and, I think, eight more in ... that were registered in Belfast but were called things like Ulster Bank, Dublin Treasury and so on. Why is it necessary to have 27 entities? Because he,...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)
Marc MacSharry: Were these single entity companies, as you've described them, used to convenient ... for the convenience of distributing loan concentration to various entities as opposed to exposing one entity to beyond the rules?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)
Marc MacSharry: The bank's loan-to-deposit ratio increased significantly in the 2000s peaking at around 209% in 2007. Would you have any comment to make on the appropriateness of that loan-to-deposit ratio?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)
Marc MacSharry: Did ... with reporting, and you described it yourself that you reported to the CEO and, in parallel, you reported to the director of the treasury side of the business in RBS, in parallel, so ... and Mr. McCarthy yesterday gave us quite a complicated outline of how reporting was carried out as well and it certainly involved RBS from what his evidence had said. Were RBS making all of the balls?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)
Marc MacSharry: Were you in a position, as the person responsible for funding Ulster Bank in your role, could you fund it independently of RBS or did it have to go through RBS? Did you access the wholesale markets for funding without consulting or-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)
Marc MacSharry: Did the impact of the introduction of the euro have, and while I know this goes back perhaps before your time in Ulster Bank, but in terms of your experience, did it have a positive or negative impact on the funding of financial institutions that you were in?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)
Marc MacSharry: Yes ... in line, and I don't mind ... it's not that I'm excluding you, Mr. Gallagher, you are free to come in at any stage and this is my final question, so with the onset of the euro and the access to facilities that you speak of, did, as a result of the very competitive environment which existed with all banks and you were trying to be the third banking force and so on, did this have ... an...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)
Marc MacSharry: Did it loosen the acceptable standards, as opposed to drive down the quality? Did it loosen the considerations of underwriting?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)
Marc MacSharry: Thanks very much and thanks, gentlemen, for being here and welcome. I'm going to try and cover a good bit of ground if I can so if we can keep ... just because I have limited time ... answers as short as possible. The first one is to '03. Did you feel that the strategy and risks appetite of your institution was appropriate in the context of your own and your team's analysis. So if I go...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)
Marc MacSharry: So you were happy with it. Okay, and Mr. Beggs?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)
Marc MacSharry: No, no, we get that. Do you feel now it was excessive, or you felt then?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)
Marc MacSharry: So with hindsight, you are saying yes. And yourself, Mr. McArdle?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)
Marc MacSharry: So you felt that the appetite was appropriate, or not?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)
Marc MacSharry: Okay. In terms of the euro ... with the introduction of the euro and between competitiveness, which you have all spoken about and the highly competitive environment, and I suppose the additional facility and access to liquidity, or easier liquidity that the entry in the euro gave, did that drive down what you've referred to Mr. McLaughlin as credit quality or underwriting quality?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)
Marc MacSharry: He's sitting beside you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)
Marc MacSharry: No bother, it's not mine. Twenty lashes.