Results 17,181-17,200 of 27,945 for speaker:Michael McGrath

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: It's incredibly convoluted.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: Yes, and I am sorry for trying to tease it out.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: I am trying to get it clear in my own mind, exactly what your role was and how credit decisions were made and how the chain of accountability-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: -----worked its way up to the executive team and then to the board, so-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: Right.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: And was there any one person in charge of credit?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: No, okay. So you had the various layers-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: -----there with committees, and ultimately that fed up to Mr. Merriman from the finance ... as finance director.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: Okay. So your involvement in risk in 2005 and 2006, that didn't involve any input into the risk assessment of the credit strategy or of loan applications, for example.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: So what risks were you responsible for assessing?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: Right.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: What was the role of the credit risk committee?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: Right. And did the credit risk committee have an input into lending decisions?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: Okay. I suppose what I am trying to understand is, you know, when a bank is assessing risk and you have a risk function-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: -----and the various annual reports, you know, do consider the issue of the risk of lending strategy, for example, I'm talking about, across the different banks and what I am trying to understand is how that becomes part, then, of the consideration of lending policy, how that feeds into lending policy and there doesn't seem to be any direct correlation.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: Okay. Senator Barrett already asked you about the tracker mortgage interest rate risk-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael McGrath: -----and I think you addressed that issue, that you weren't on the board, that you had no input into that or assessing the risk from that. Just finally, Ms Clarke, you were with EBS since 1991 you said.