Results 16,881-16,900 of 27,945 for speaker:Michael McGrath
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: -----were accounted for by residential mortgages?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: What were the other 15%, broadly-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: -----of the asset base?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Okay. Can you just explain how the loan-to-deposit ratio reached a mouth-watering 275%? And, in the context of the fact that the funding mix ... if you look at the graph on Vol. 1, page 121, which looks at '06, '07, late '07, March '08, and the composition of the funding mix remains broadly stable, with long-term debt being, you know, 20-odd per cent; securitisation, 7%, 8%, 9%; deposits,...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: -----because the lending was-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Why was it so out of step with the other financial institutions in terms of the loan-to-deposit ratio? It was way out on its own.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Would that have been a significant factor?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Sure.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Sure, it's just one measure but, in nominal terms, were the level of deposits broadly stable or were deposits rising over the period in question ... let's say, those key years '06- '07?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: As I said, you have two elements to that measure - you've loans and you've deposits. Were the deposits ... in nominal terms, what was the pattern?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: I know that.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Costs were growing but----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: What was the main mistake that was made? Was it the over-reliance on wholesale funding?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: Where would you rank that then with ... alongside, say, credit decisions and the quality of lending?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: I know it was the confluence of a number of factors that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: -----crystallised the whole thing in the end but, in terms of the decisions that were made by ILP, the factors that were within your control, how would you rank-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Michael McGrath: -----the mistakes that were made?