Results 10,941-10,960 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Marc MacSharry: In reality, and I appreciate that there was this approach, were there targets given to branch managers which manifested themselves in volumes of money lent?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Marc MacSharry: I didn't say they did and the question is not in relation to underwriting. The question is relating to ... are there volume targets?.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Marc MacSharry: No, are there volume targets specific to lending for branch managers?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Marc MacSharry: So how do you measure the performance of a branch?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Marc MacSharry: You mentioned the model there that you had ... What I'm trying to say-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Marc MacSharry: So let's say you lent nothing and you took on no investment in increased deposits, how could you reach your target? Was it possible to reach your target by lending less and accepting less deposits? So, say, I'm the branch manager and my branch had a run and I lent nothing. Could I reach my target?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Marc MacSharry: Okay, so is it reasonable or not to assume that in order for me as a branch manager to reach my targets that, I along with other issues, would have to increase deposits and increase lending? Yes or no?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Marc MacSharry: I have asked my question and I have asked that it be answered in a certain way. And no doubt he'll respond without your help.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Marc MacSharry: Would branch managers be expected to cross sell the products of the branch ... of the bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Marc MacSharry: And would they be volume-related or would it be -----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Marc MacSharry: Would you accept or not that in order for branch staff to reach their targets that they would focus on increasing the volumes of sales of bank products, including loans?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Marc MacSharry: Including increased lending.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Marc MacSharry: No, they had no control over underwriting, but in terms of numbers of applications-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Marc MacSharry: Okay, so would it be possible, therefore, that an unintended consequence of the targeting approach of the bank may have led to a volume of applications of a lesser quality? Would it be or not?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Marc MacSharry: Okay, I have to move on as I have 2.4 minutes left, not including the leniency that you gave Mr. Doherty there ... so whatever I get for that. In terms of the interaction with the regulator and the loan-to-values, Mr. Buckley you mentioned earlier on, and I'm quoting, "applicants who are in a special place" ... for example ,you said they may have got help from family and so on, so were...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Marc MacSharry: And Mr. Sheehy in your time? Were there any applicants of a commercial nature that were in a special place to use your predecessor's -----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Marc MacSharry: No. So when Mr. Gleeson last week mentioned that on one occasion the board increased lending, say, and these were his figures, by €200 million from a €700 million position, would that person have been at a special place?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Marc MacSharry: I don't have the exact page but it's there.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Marc MacSharry: And there was an established process that one would follow in those instances, would there be?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)
Marc MacSharry: I get the point, thanks very much. Right, just three very quick questions, Chairman. First of all, last week Mr. Gleeson again referred to a private conversation with Mr. Lenihan in which he was given the clear understanding, he said, that Mr. Lenihan was of the view that Irish Nationwide and Anglo should be nationalised. Did you ever have - and this is to Mr. Sheehy - any personal...