Results 19,001-19,020 of 27,945 for speaker:Michael McGrath

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Michael McGrath: What is an appropriate loan-to-deposit ratio for a bank of your size?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Michael McGrath: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Michael McGrath: And what was the rationale in allowing that ratio, loan to deposit, going as high as 176%?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Michael McGrath: On page 8 of your opening statement you make reference to a meeting on the weekend of 6-7 September 2008, where, at the request of the Central Bank, a colleague and yourself attended a series of meetings in the Central Bank to discuss potential liquidity support from BOI and AIB for INBS. And you say, "I recall being shocked and shaken by the lack of information available to the executives...

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Michael McGrath: Can you advise who was at the meeting? From memory?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Michael McGrath: And was a specific request made of Bank of Ireland at that meeting to provide support for INBS at that stage?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Michael McGrath: And these meeting were over two successive days?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Michael McGrath: And what conclusion did you draw from that meeting?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Michael McGrath: Was the gravity of the situation------

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Michael McGrath: -----facing INBS becoming clear to you at that stage?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Michael McGrath: Was Anglo mentioned at that meeting?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Michael McGrath: And was AIB present?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Michael McGrath: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Michael McGrath: Okay. And this was still three weeks or so away from the bank guarantee. Were you involved in any further discussions with the authorities concerning INBS in the intervening period?

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Michael McGrath: Okay. Can I ask you, Mr. Boucher, about the issue of subordinated debt being included in the bank guarantee at the end of September, because you make reference to that issue in your opening statement again, towards the bottom of page 8, and you give the clear impression that you were opposed to the inclusion of subordinated debt. Can you elaborate on that and distinguish between dated and...

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Michael McGrath: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Michael McGrath: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Michael McGrath: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Michael McGrath: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Michael McGrath: So, just to clarify, you were surprised that the guarantee included dated subordinated debt?