Results 11,501-11,520 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: Advances made to debtors once NAMA was announced that eventually went into NAMA. NAMA found that 17% of advances made by Bank of Ireland were not for commercial purposes and so were not repaid by NAMA, were not eligible under the scheme announced by the Central Bank at the time.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: I missed the first part of that, Mr. Boucher. Sorry, you think that NAMA has repaid some of that money since ... of the 17%-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: And can I just ask when that legal discussion began because we got this evidence only a few weeks ago----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: Thank you, Chairman. Mr. McCarthy, I just want to pick up where Deputy Doherty left off, if I may, and that's the letter from the regulator from 12 March 2008, and the reference document is UBI - B2, page 24. It took three months to reply to the concerns that Deputy Doherty already examined with you. Would that be an average length of reply or is there a delay there?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: I think you said earlier that matters could have been dealt with during the review with the regulator.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: If you could just help me then with ... on page 24, in the letter from the regulator, the first bullet says: Following a request by the inspection team to meet with the relationship managers at [the bank, at Ulster Bank] our inspection team was advised by senior management that this may not be appropriate. In this regard, I would be obliged if you advise all staff of their obligations...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: Is that not a case of the regulator trying to meet with senior staff and them refusing to meet with the regulator?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: I mean the regulator wouldn't be contacting them directly, they would be going through their managers-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: So would that mean senior staff would then deny the opportunity for the regulator to meet with those relationship managers?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: If we take then the incidence of the interaction, the exchange of letters over this inspection process by the Financial Regulator and some of the comments that you've made in terms of your interaction with them being periodic or there being no regular dialogue, could you characterise then your bank's relationship with the regulator in that period when you were CEO, 2004 up to 2008?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: Would you ever discuss the Financial Regulator or your relationship with the Financial Regulator with your parent bank, with RBS, would that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: And would letters like these been brought to their attention?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: Of RBS.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: And when you talk about receiving a non-objection, you know, you introduce a new product into the market, or a new policy-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: -----there's a non-objection; is that the same as approval?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: And what about being proactive in your approach with the regulator, ever going into them prior to September 2008, with a concern, say, over a particular product or, for example, an accounting standard, IAS 39?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)
Eoghan Murphy: Okay, thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
Eoghan Murphy: Thank you, Chairman, and thank you, Mr. Goggin. If I could bring your attention to BOI - B2, Vol. 1, page 23.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
Eoghan Murphy: It's about the establishment of a dedicated property unit.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)
Eoghan Murphy: This document is from 9 November 2004. So I just want to read out a couple of bits from it: The Property Market in the Republic is shaped and controlled by less than 100 key players. In the past 5 years we have under performed in this top end market, which has been dominated by Banks with specialist property units, most notably Anglo Irish Bank. [...] A dedicated property unit is being...