Results 18,381-18,400 of 27,945 for speaker:Michael McGrath
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: No, it was yesterday's evidence.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: Mr. Horan indicated that the issue went to the remuneration and budgeting committee---
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: ---of which you were a member?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: Do you remember this particular case, Mr. Neary?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: And what happened?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: Six.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: Mr. Neary, whatever about the ability to actually recruit people, was the request for six additional staff by the head of banking supervision in May 2008 sanctioned or not?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: Fully sanctioned?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: Mr. Hurley's statement that any requests for additional resources by the Financial Regulator was never refused. Is that accurate?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: It was the ability to recruit.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: Okay, so do you believe that you fulfilled your duty under section 7 of the 2003 Act, where you as chief executive, had the same power as the board to appoint employees, as you considered necessary, for the effective performance and exercise of the functions and powers of the bank in each of its constituent parts?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: Did you fulfil that duty?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: Mr. Neary, can I put to you some of the central conclusions of Professor Honohan in his official report on the regulatory approach? He said:It was and was perceived to be excessively deferential and accommodating, insufficiently challenging and not persistent enough. It meant not moving decisively and effectively enough against banks with governance issues. Corrective regulatory...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: On a general assessment of principles-led supervision, Mr. Neary, it is an assessment of your application of regulation during your tenure; that's what it is.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: But, Mr. Neary, where in the principles-based regulation does it say that the regulator should not move "decisively and effectively ... against banks with governance issues"? Where does it say that the regulator should be "excessively deferential and accommodating", that the regulator should be "insufficiently challenging"? Where does it say the regulator should "not [be] persistent...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: Mr. Neary, how would you describe your professional relationship with the Governor of the Central Bank, John Hurley, during your time as CEO of the regulator?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: In his report, Governor Honohan notes that pressure was exerted on the Financial Regulator. Can you comment on his view that the Financial Regulator acted in a deferential manner towards the Department of Finance in regard to proposed legislative changes and he cites compliance statements, fit and proper requirements, etc.? Can you characterise the relationship between the Financial...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: Can I ask you about pressure from the industry, the banking industry, Mr. Neary? How extensive ... was there lobbying by the industry of you personally and your senior executives on the approach to regulation, on specific regulatory issues affecting certain institutions?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: Can I put to you, Mr. Neary, some of the evidence from Mary Burke yesterday again on this issue? And I'm paraphrasing but she painted a picture of senior executives at the regulator's office meeting bank executives behind the backs of the employees of the regulator who were directly regulating those banks. She painted a picture of meetings on the seventh floor involving very senior people...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (28 May 2015)
Michael McGrath: Mr. Neary, when did you first become aware of Seán Quinn's contracts for difference exposure in Anglo?