Results 18,641-18,660 of 27,945 for speaker:Michael McGrath

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Michael McGrath: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Michael McGrath: Okay. And as far as you-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Michael McGrath: I understand, yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Michael McGrath: I understand. And as far as you can recall, were the representatives of both the main banks present when that decision was conveyed by the Taoiseach?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Michael McGrath: Was there any discussion on the night of solvency, about any one bank or the banking system generally, or was it regarded as a liquidity crisis?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Michael McGrath: Was there any discussion at all about possible insolvency of one or more of the banks?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Michael McGrath: Not while you were present at any-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Michael McGrath: And in the context of issuing a guarantee, was the option of guaranteeing new debt issuances considered, as opposed to an almost blanket guarantee of existing liabilities?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Michael McGrath: Was consideration given to just guaranteeing-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Michael McGrath: -----new debt?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Michael McGrath: Why not?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Michael McGrath: In that it may not have been credible for the markets, wouldn't have been robust enough, or-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Michael McGrath: The final area I want to touch on is ... you stated that arrangements had been made for emergency liquidity assistance to be available for Anglo on the following day. How much was arranged?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Michael McGrath: But a facility was in place of up to €3 billion of ELA.

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Michael McGrath: I accept it's in the realm of speculation but if a decision was made to extend that ELA to Anglo and not to issue any guarantee to any of the banks what, in your view, would have transpired?

Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)

Michael McGrath: Just to clarify, that €3 billion and the €10 billion from AIB-Bank of Ireland which was requested at one point, would have been fully State guaranteed.

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Michael McGrath: Thank you very much, Chair. You are very welcome Mr. McDonnell and Mr. Murphy. If I can start by asking if PwC performed any stress testing as part of the external audit of Bank of Ireland to take into account the correlation between different types of property being financed- residential, commercial, development land and speculative land banks - and if you did, what conclusions were drawn?...

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Michael McGrath: Okay. Are you happy enough to take some questions on the financial statements prior to the years-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Michael McGrath: -----that you became the auditor in charge,

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Michael McGrath: -----which was a -----