Results 18,501-18,520 of 27,945 for speaker:Michael McGrath

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Michael McGrath: Mr. Honohan's report is referring to about 200 in prudential supervision-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Michael McGrath: -----and only 50 in banking.

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Michael McGrath: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Michael McGrath: So in the region of 50 out of a total of 300 or so?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Michael McGrath: Of that order. Okay. Just on the issue of resources, your request in May 2008, was that your first request for additional resources since you became the head of-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Michael McGrath: -----banking supervision?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Michael McGrath: At your request?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Michael McGrath: And was your request met in full?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Michael McGrath: Okay, and that was for the calendar year, 2008, and that request would have been put in during-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Michael McGrath: -----2007.

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Michael McGrath: And the request which you refer to in May 2008, that was for the calendar year, 2009.

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Michael McGrath: It was an early stage of ... early of-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Michael McGrath: -----early stage of the planning.

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Michael McGrath: Okay. Okay. But to your knowledge that was the first request that was refused during your time as head?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Michael McGrath: Okay-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Michael McGrath: Sure. You said a few moments ago that prudential enforcement cases weren't taken or weren't recommended because you simply didn't have the resources to process them and to follow through. Is that accurate?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Michael McGrath: Isn't that quite an alarming point and quite a striking point? And doesn't it go really to the heart of what your job was that you really weren't in a position to do your job? Even if you felt that a prudential enforcement case should be taken against the bank, you didn't pursue it because of a lack of resources. You simply weren't able to do your job.

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Michael McGrath: And who did you make this known to?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Michael McGrath: But did that not basically mean you couldn't do your job in full?

Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)

Michael McGrath: Okay. In your opening statement, you essentially say that a lack of powers wasn't the key issue. Is that accurate?