Results 10,941-10,960 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: And what about then memos that you would have written about reining in lending to the property sector, which you referenced in your opening statement, by imposing credit ceilings? And the memo came back with the words, "That is out of the question", added to the memo. Why did that happen do you think, and was that information brought to the board?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: And just to clarify again, would the board have been aware of that model that was in the first draft of the financial stability report of 2007 on overvaluations of house prices, Irish property prices, that was then dropped out? They wouldn't have been aware of that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: Okay, so that was also kept from them. When it came to then the drafting of the pre-budget letters, just, these letters that went, were you involved in the drafting, the initial drafting of these?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: But you wouldn't be involved in final sign-off of those?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: Did the Governor or the board have the final say on the pre-budget letters?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: Okay, so would those same vested interests, those same things that were happening that we have just discussed about, would they have also been in play with the submission or the drafting of the pre-budget letters in terms of information being kept from the board?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: Okay. So that's an example of information not going to the board, but not because of a conflict of interest or a potential one or an intermediary stepping in the way but because it wasn't what the Central Bank did. Is that correct? You didn't give advice on taxation issues. Is that what you said?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: And did you ever disagree yourself with any of the pre-budget letters that were sent to the Minister between 2002 and 2008?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: And did you ever write to the board yourself expressing concern about information being kept from them by the person your reported to?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: And then when we come to the 2004 pre-budget letter, it's noted by the board, after the budget, that the advice from the Central Bank was not fully adhered to. In that scenario, what does the Central Bank do? Does it write a post-budget letter? Does it note this in its financial stability report?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Eoghan Murphy: And my final question, the failure to pursue post-budget announcement what hadn't been adopted by the Central Bank pre-budget. Did that have anything to do with the membership of the board of the Central Bank, or vested interests, as you describe them, operating within the bank?
- Written Answers — Department of Finance: Tax Yield (9 Jun 2015)
Eoghan Murphy: 319. To ask the Minister for Finance Dublin's tax contribution to overall Exchequer finances in 2013. [21878/15]
- Written Answers — Department of Finance: Redundancy Payments (9 Jun 2015)
Eoghan Murphy: 335. To ask the Minister for Finance the Revenue Commissioners' views on a matter (details supplied) regarding a redundancy situation. [22153/15]
- Written Answers — Department of Public Expenditure and Reform: Public Sector Pay (9 Jun 2015)
Eoghan Murphy: 365. To ask the Minister for Public Expenditure and Reform his views on the establishment of an independent public sector pay commission, similar to the Low Pay Commission, to oversee an evidence based and transparent approach to public sector pay talks. [22152/15]
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Eoghan Murphy: Thank you, Chairman, and-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Eoghan Murphy: -----thank you, Mr. Neary. There's just two areas I want to touch on, if I may, before we conclude this session. On page 11 of your opening statement you said that apart from considerable day-to-day contact with their respective banks, staff in banking supervision carried out over 50 inspections of banks between 2003 and 2008. Are you presenting this as a positive?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Eoghan Murphy: Okay. In a report from the Comptroller and Auditor General in 2007, a special report on the Financial Regulator, he criticised the level of on-site inspections. So what did you do as a result of that criticism?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Eoghan Murphy: I can give you the context, if I may. A central concern of the special report was that the inspection levels were low and that risk rating was used to ration resources rather than determine an appropriate regulatory stance for institutions.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Eoghan Murphy: That's in the C&AG special report of 2009 and it's referencing the 2007 special report.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Eoghan Murphy: It's not in the core documents but the regulator is ... is aware of the report.