Results 11,481-11,500 of 15,555 for speaker:Eoghan Murphy

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Eoghan Murphy: Thank you, Chairman, and thank you, Mr. Boucher. I just want to come back to what we were discussing earlier about this dedicated property unit that you established in 2004. When you look now at the PwC Project Atlas report, and you look at what happened with NAMA, do you view the setting up of that unit as a mistake for the bank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Eoghan Murphy: Can I ask about the structure of this dedicated unit? Why was private banking included?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Eoghan Murphy: Exclusively at the time?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Eoghan Murphy: And if you could just explain to me what private banking is in terms of what Bank of Ireland offers? Is it a licensed credit institution?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Eoghan Murphy: It's not?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Eoghan Murphy: Can you elaborate on that please? I don't understand the term.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Eoghan Murphy: It's a brand name?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Eoghan Murphy: But it's not a licensed credit institution?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Eoghan Murphy: Is it a separate entity then from the bank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Eoghan Murphy: So it's just a point of presentation for the bank, if you like, to customers?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Eoghan Murphy: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Eoghan Murphy: Yes, sorry.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Eoghan Murphy: Okay. Would it have the same oversight that the rest of the bank would have in terms of the Central Bank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Eoghan Murphy: The Central Bank wouldn't overview the private banking section of Bank of Ireland?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Eoghan Murphy: Has there ever been an investigation by an external agency into private banking in Bank of Ireland?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Eoghan Murphy: Up until and including 2013.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Eoghan Murphy: An external agency having an investigation into private banking, to look at their operations, say, as to what the bank provides.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Eoghan Murphy: Okay, thank you. I just want to move to some of the evidence NAMA gave us when they were before us in relation to how NAMA debtors and the banks were managed once NAMA was announced. And one of the things that NAMA told us was that the extent to which NAMA, the banks, sorry, were collecting income from things like office blocks or shopping centres where the banks themselves ... that was not...

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Eoghan Murphy: And in those cases where you didn't, what ... why wouldn't you?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Eoghan Murphy: Okay and-----