Results 11,001-11,020 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Marc MacSharry: Yesterday we had an example from the CEO of NAMA where he spoke anecdotally of a senior lender in an institution that was nameless, lending €200 million to somebody on the basis of a statement of affairs that was handwritten and put back into his pocket in a matter of months.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Marc MacSharry: Were there ever-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Marc MacSharry: -----any such practices?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Marc MacSharry: You said earlier on, to do with targets, that it was never sales-related, that it-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Marc MacSharry: It was profit-related.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Marc MacSharry: But how do you reconcile that then with individual branch managers having lending targets? Surely that's volume-related.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Marc MacSharry: No, again, can I just ask you to be very specific here? Is it not the practice that branch manager, or business manager A in region B, is told "your target for quarter one or two or three or the year, is so many millions, in lending"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Marc MacSharry: So well surely if he lent that money, would that not be an indication that he performed to target and therefore might-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Marc MacSharry: Okay, so in terms of remuneration ... so ... you might-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Marc MacSharry: I understand. So what you're saying, just so that we're clear for the record, what you said earlier maybe isn't entirely correct then.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Marc MacSharry: No problem, we can ask ... we can ask some of the others from the bank.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Marc MacSharry: Yes, we'll speak to him about that. You mentioned in your statement that the ECB had tools at its disposal to enforce policies that could mitigate against the negative impacts of interest rates being too low. I think you stated that they ought to have been between 6% and 12%.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Marc MacSharry: No I know that but you did say the ECB had these tools at their disposal if I'm understanding you correctly.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Marc MacSharry: Yes, and what is that legal instrument? Could you explain just for people-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Marc MacSharry: Is this something that you realised with the benefit of hindsight or at the time do you remember thinking-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Marc MacSharry: In hindsight.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Marc MacSharry: Okay, so in any event, nothing happened in Irish hands-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Marc MacSharry: Okay, just last question then. You spoke earlier, and indeed in your statement, of how, in a private conversation with Brian Lenihan, the late Brian Lenihan, that he had said that his preferred option was to deal in a different way with Irish Nationwide and ... and Anglo.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Marc MacSharry: Would there be any other pieces of information that the Minister may have shared with you in private that may be relevant to us here?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)
Marc MacSharry: Okay, I have five seconds. In the room for the guarantee, on the particular night in question, was Mr. Lenihan present at all times when you were present?