Results 19,841-19,860 of 27,945 for speaker:Michael McGrath

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Michael McGrath: I welcome Mr. Carswell and thank him for his attendance. I refer to chapter 14 of his book dealing with the guarantee. Perhaps I can put some matters on the record and ask Mr. Carswell to confirm if he believes they are accurate. Mr. Carswell refers to a view within Anglo Irish Bank on 29 September 2008 that it would be short at least €1.5 billion the following day and that the bank...

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Michael McGrath: Mr. Carswell said the bank had lost €1.8 billion in deposits over the course of the day, 29 September, and did not have any reserves left. The bank had borrowed €900 million from the Central Bank, and there was more than €2 billion of debt which had to be repaid the following day and if depositors came knocking, Anglo would not have been able to pay them. Mr....

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Michael McGrath: That is fine. I will not be quoting extensively from it. I just want to tease out some points. I am on page 213.

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Michael McGrath: I am; page 213. Mr. Carswell names an individual who I will not name but he states that the view within the bank, at the very end of September 2008, was that there were only €500 million of bad loans on an overall loan book of €73 billion. That was the position as Mr. Carswell understands it from the perspective of the institution at that time.

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Michael McGrath: That was the extent of the losses on the loan book.

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Michael McGrath: Yes. Regarding the evening of 29 September, Mr. Carswell has a detailed chronology but he is clear, and it is on the record, that Anglo was not involved in the discussions later in the evening of 29 September. Their involvement was earlier in the day, with bilateral meetings with the other banks, the pillar banks, and so forth.

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Michael McGrath: On the question of solvency, which Deputy O'Donnell touched on, does Mr. Carswell believe there was an understanding within Anglo Irish Bank that at the end of September 2008 it was potentially facing a solvency crisis?

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Michael McGrath: Does Mr. Carswell think they believed that?

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Michael McGrath: Within the authorities, namely, the Central Bank and the Financial Regulator, does Mr. Carswell believe there was any sense at that time, in the eye of the storm at the end of September 2008, that we were looking potentially at solvency issues or did they believe it was a liquidity issue as well?

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Michael McGrath: I ask about the workings of the credit committee and the risk and compliance committee within Anglo Irish Bank during the critical years from, say, 2003 onwards. How would Mr. Carswell characterise how they worked and the governance arrangements that would have applied?

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Michael McGrath: On the credit committee and the risk and compliance committee within Anglo, how would Mr. Carswell characterise their workings during the years when there was a major expansion of credit from the bank to the property and related sector? The Chairman has asked me to put my final question. Mr. Carswell has documented a lot of very useful information in his book but where does he believe...

Committee of Inquiry into the Banking Crisis: Context Phase (10 Mar 2015)

Michael McGrath: What about the gaps in our knowledge?

Written Answers — Department of Social Protection: Pension Provisions (5 Mar 2015)

Michael McGrath: 72. To ask the Minister for Social Protection the current status of plans for a central pensions register; and if she will make a statement on the matter. [9829/15]

Written Answers — Department of Finance: Vehicle Registration (5 Mar 2015)

Michael McGrath: 84. To ask the Minister for Finance if he will address the general issues raised in correspondence, in respect of a person (details supplied) in Dublin 22, regarding the application of vehicle registration tax on a returning emigrant, who is planning to bring a vehicle home with them. [9802/15]

Written Answers — Department of Finance: Central Bank of Ireland Investigations (5 Mar 2015)

Michael McGrath: 87. To ask the Minister for Finance the current state of the Central Bank of Ireland investigation of issues relating to under-provisioning at a company (details supplied); and if he will make a statement on the matter. [9827/15]

Written Answers — Department of Finance: Tax Data (5 Mar 2015)

Michael McGrath: 88. To ask the Minister for Finance if he will provide, in tabular form, the sales of marked diesel on a county basis in each year from 2012 to 2014; and if he will make a statement on the matter. [9830/15]

Written Answers — Department of Finance: Pension Provisions (5 Mar 2015)

Michael McGrath: 89. To ask the Minister for Finance the total value of pension assets transferred abroad by trustees since 2010; and if he will make a statement on the matter. [9832/15]

Written Answers — Department of Finance: State Debt (5 Mar 2015)

Michael McGrath: 90. To ask the Minister for Finance further to Parliamentary Question No. 81 of 12 February 2015, if his reply that the projected structural deficit for 2015 is above the headline deficit indicates that the economy is operating above its trend line, with negative spare capacity; his estimate of the equilibrium level of unemployment, based on the current structural deficit; and if he will make...

Written Answers — Department of Finance: Banking Operations (5 Mar 2015)

Michael McGrath: 91. To ask the Minister for Finance his views on requiring banks to provide more information as to why lending applications are declined; and if he will make a statement on the matter. [9834/15]

Written Answers — Department of Finance: Tax Compliance (5 Mar 2015)

Michael McGrath: 92. To ask the Minister for Finance if the Revenue Commissioners are conducting a dedicated investigation of taxation issues relating to hospital consultants who have income from both public and private practice; and if he will make a statement on the matter. [9835/15]