Results 16,821-16,840 of 27,945 for speaker:Michael McGrath
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Okay. And then the following day, 19 November, there is a further e-mail, from you to Mr. Drumm, where it says, "Enda says we are to be an 'offshoot' of" BoI." Were you the author of that e-mail to Mr. Drumm?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: And is that giving an account of a separate conversation with Mr. Kenny?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Okay. Can you give us the background to that because, obviously, those are very sensitive issues that were being discussed by Mr. Kenny, as Leader of the Opposition, and you - information which may or may not have been accurate or I don't know the provenance or where he would have got the information. But can you give us the background to those conversations? So were there two...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Okay. Mr. Kenny told this inquiry that he had no conversation of any substance with yourself.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: But he did have a conversation with you in which he informed you that Anglo was to be an offshoot of Bank of Ireland.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: And a second conversation in which he conveyed to you a rumour circulating around the corridors of power about a deal between Bank of Ireland and ILP?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: You would characterise that as not a conversation of any substance?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Sure. Under questioning by Deputy Doherty, Mr. Kenny acknowledged at least one conversation, and said that there may have been two, and that the origin of it was that your brother contacted him to say that you wanted to speak with Mr. Kenny, that you wanted to say something to him. Is that the case?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: What did you have to say to him?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Sure, and Mr. Kenny acknowledged that he did make contact with you. So, pertaining to Anglo Irish Bank, what did you want to convey to him, if anything?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: He specifically referred to ... that the origin of the call was your brother said to Mr. Kenny that you wanted to convey something to him.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Okay. Mr. Chairman, I know we are not going anywhere near the whole criminal trial area, but just to ask Mr. Moran that what was said in court that you have immunity from the DPP, that that is accurate in relation to all matters pertaining to Anglo.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Thank you, Chair. Mr. Gantly, you are very welcome.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Can I start by just going back to the issue of tracker mortgages? And I know you weren't on the banking side, as group treasurer, but in terms of interest rate risk, were you aware of the extent of the tracker mortgage interest rate risk and was this issue ever discussed at board level, to your knowledge? And I know you weren't on the board, but can you just discuss that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: When did the bank start rolling out tracker mortgages?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: I think '05 actually, yes. I think '05.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Okay. And can you just explain to the inquiry how a bank would fund, let's say, a bundle of mortgages - an individual mortgage, a bundle of mortgages? Where does that money come from?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: The money, ultimately, is coming from-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: -----deposits, wholesale funding, you know, your funding mix.