Results 18,201-18,220 of 27,945 for speaker:Michael McGrath
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael McGrath: -----changed the outcome?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael McGrath: When exactly did those administrative sanctions become available? Was it 2005?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael McGrath: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael McGrath: Just to clarify, when exactly were sanctions against banks on your desk and available for use?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael McGrath: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael McGrath: So they weren't available at all during your tenure?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael McGrath: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael McGrath: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael McGrath: But you didn't request additional resources.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael McGrath: And can you comment-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael McGrath: Can you comment, Mr. O'Reilly, on the rapidly expanding balance sheets of the banks and was there a requirement, as a result of much more intrusive supervision, than what they actually experienced from the regulator for the period '03 to '06? Why did you not embark on more stringent intervention in light of this?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael McGrath: Thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael McGrath: Thank you very much, Chair. You're very welcome, Mr. Patterson. Can I just start by asking you, apart from the publication of the financial stability reports over a number of years, how did the Central Bank and IFSRA ensure that the Government was at all times well informed about the macroeconomic situation and ... and trends?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael McGrath: Okay. You said that, in your role as chairperson of the board, a non-executive position, you'd find yourself in the building or in the office one or two days a week. Typically, how many hours work a week would being the non-executive chairman of the board involve?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael McGrath: So ten to 20 hours a week maybe?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael McGrath: Something like that. And, was there a fee attaching then to ... to the position?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael McGrath: And how much was that say, for 2006 or '7?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael McGrath: Okay. Just on the issue of the powers that the Financial Regulator had, it strikes me that there is something of a difference between what you said verbally and what's in your ... your written report, and, you indicated a ... a change in your thinking. Was that a very recent change in your thinking, that the ... that the Financial Regulator did have adequate powers to intervene?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael McGrath: Sure. Because your written statement in section 1.2, which starts on page 3, it makes a number of points about powers, that you didn't have ... that the regulator, sorry, didn't have the power, for example, to disapprove of specific products like 100% mortgages. You make the point about foreign banks which are passported in here and you didn't ... the regulator didn't want to disadvantage...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Michael McGrath: Okay.