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Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Discussion with Minister for Finance (8 Nov 2012)

Dara Murphy: ...as an exchange of views. He mentioned a proposal that referred to a prudential supervision. Today, as he will know, we will have all read the newspaper reports on pay levels for executives in the IBRC. We all welcome the call made by Mr. David Duffy that resulted in a pay reduction for Mr. Eugene Sheehy. I wonder, within the prudential supervision and the exchange of views, if we...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Dara Murphy: ...vested interest in seeing Bank of Ireland's recovery but we have a much smaller shareholding in it than in the other banks. Yesterday AIB told us that it expects to be back to profit in 2014 and IBRC gave us a schedule of its perceived reduction in exposure to the State. Has Bank of Ireland a timeline for its return to profit and when and how there might be a return to the Exchequer of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)

Dara Murphy: ...system. The second is to ensure that some moneys can be recouped by the Exchequer. I will pick up on some questions posed by Deputy McGrath. This morning, we heard from executives from the IBRC who told us that their ambition is for the net cost to the Exchequer of the promissory notes to be in the region of €25 billion as opposed to the predicted figure of €34 billion....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)

Dara Murphy: In respect of the language that Mr. Duffy used about variables and the market changing, perhaps one of the most refreshing parts of this morning was that the IBRC also acknowledged, as we all do, that there is a broad range of variables. However, the IBRC still set a target at which to arrive. It may be worthwhile to look at the model set out by the IBRC in the documents its delegates laid...