Results 22,321-22,340 of 33,049 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Bank Restructuring (7 Nov 2017)

Paschal Donohoe: There are no State funds provided or required in relation to the creation of a Holding Company by AIB, as facilitated by an EGM (Extraordinary General Meeting) on Friday 3rd November. AIB is required to establish a Holding Company structure under the BRRD (Bank Recovery and Resolution Directive) which established an EU framework for dealing with pre-resolution and resolution...

Written Answers — Department of Finance: Tracker Mortgages (7 Nov 2017)

Paschal Donohoe: The Deputy may wish to note that the Central Bank's document "Principles for Redress" in relation to the tracker mortgage examination provides, inter alia, that the credit rating of impacted customers is to be corrected as soon as possible by the lender and that copies of an updated credit rating are to be provided free of charge to impacted customers. The Central Bank "Principles for...

Written Answers — Department of Finance: Tracker Mortgage Examination Data (7 Nov 2017)

Paschal Donohoe: I propose to take Questions Nos. 255 and 268 together. As the Deputy is aware, the Central Bank of Ireland has set out the Framework for Conducting the Tracker Mortgage Examination and the Principles for Redress. The Central Bank has indicated that appeals form an important part of the overall Examination process by ensuring independent and transparent processes to address complaints...

Written Answers — Department of Finance: Tracker Mortgage Examination (7 Nov 2017)

Paschal Donohoe: The Central Bank has advised that in accordance with the Tracker Examination Framework, the Central Bank expects that for all impacted customers, lenders’ redress and compensation offers will restore them to the position they would have been in had the detriment not occurred and that they are appropriately compensated for the detriment suffered. The Central Bank expects the...

Written Answers — Department of Finance: Tracker Mortgage Data (7 Nov 2017)

Paschal Donohoe: The recent October 2017 Central Bank update on the tracker mortgage examination () indicates that to date lenders have reported that as a result of their failings, loss of ownership has occurred in respect of 23 private dwelling homes and 79 buy-to-let properties. However, the Bank's update also states that, as lenders’ analyses continue, this figure will rise. The Central...

Written Answers — Department of Finance: Tax Code (7 Nov 2017)

Paschal Donohoe: I am informed by Revenue that for gift and inheritance tax purposes, the relationship between the person who provides the gift or inheritance (i.e. the disponer) and the person who receives the gift or inheritance (i.e. the beneficiary) determines the maximum amount known as the “Group threshold” below which gift or inheritance tax does not arise. There are three separate...

Written Answers — Department of Finance: Mortgage Applications Approvals (7 Nov 2017)

Paschal Donohoe: The European Union (Consumer Mortgage Credit Agreements) Regulations 2016 (which transpose the Mortgage Credit Directive into Irish law) imposes certain obligations on lenders in relation to assessment of the creditworthiness of consumer mortgage borrowers.  In particular, the Regulations provide that, before concluding a mortgage credit agreement, a lender must make a...

Written Answers — Department of Finance: Banking Sector (7 Nov 2017)

Paschal Donohoe: The ability to sell loans to a third party is governed by the original contract between the lender and the customer and I do not have the data requested by the Deputy in respect of individual banks. If a borrower has a difficulty with interpretation by a particular lender, I should point out that the Financial Services Ombudsman can investigate complaints from individual...

Written Answers — Department of Finance: Banking Sector (7 Nov 2017)

Paschal Donohoe: I propose to take Questions Nos. 261 to 263, inclusive, together. Officials in the Department of Finance have received the following responses from the banks in relation to the Deputy’s questions: AIB: “Hire Purchase agreements have not been a feature of loan portfolios sold to date. Due to the nature of the contract involved, assets financed in this manner remain the property...

Written Answers — Department of Finance: Banking Sector (7 Nov 2017)

Paschal Donohoe: There is no agreement on the precise meaning of the term “vulture funds” and it has come to have pejorative connotations.  I presume that the Deputy is referring to private equity funds.  The Deputy will be aware that international private equity funds invested much needed capital in our economy during a period of high risk and uncertainty.  ...

Written Answers — Department of Finance: Credit Review Office Remit (7 Nov 2017)

Paschal Donohoe: As the deputy is aware, the Credit Review Office is a government initiative that helps SMEs who have had an application for credit of up to €3 million declined or reduced by the main banks, and who feel that they have a viable business proposition. This is a strictly confidential process between the business, the Credit Review Office and the bank. Banks who are covered by the Credit...

Written Answers — Department of Finance: Central Bank of Ireland (7 Nov 2017)

Paschal Donohoe: I have been informed by the Central Bank due to the confidentiality requirements imposed by domestic and EU legislation, which provides for confidentiality of information relating to ongoing supervision and limits disclosure to circumstances specifically provided for in Section 33AK of the Central Bank Act 1942, the Central Bank cannot comment on individual interactions with regulated...

Written Answers — Department of Finance: Motor Insurance Costs (7 Nov 2017)

Paschal Donohoe: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation.  Neither I nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept.  This...

Written Answers — Department of Finance: Banking Sector Regulation (7 Nov 2017)

Paschal Donohoe: As the Deputy will be aware, during the week commencing October 23rd I met with the CEOs of the largest five retail banks operating in Ireland, in order to spur quick and appropriate resolution to issues raised during the Central Bank's review into Tracker Mortgages. It was clear to me, following those meetings, that significant cultural issues and challenges in some of the retail banks...

Written Answers — Department of Finance: Budget 2018 (7 Nov 2017)

Paschal Donohoe: I am advised by Revenue that the table sets out the estimated cost to the Exchequer of the Budget 2018 changes, on a full year basis, in the manner outlined by the Deputy. Gross Income of Tax Unit Income Tax €m USC €m <€70,000 -75 -127 >€70,000 -77 -79 Total -152 -206 These estimates are based on tax units. As the Deputy will be aware, jointly...

Written Answers — Department of Public Expenditure and Reform: Civil Service Staff Data (7 Nov 2017)

Paschal Donohoe: As I previously stated, The Public Service Management (Recruitment and Appointments) (Amendment) Act 2013 provides that I, as the Minister for Public Expenditure and Reform, can make regulations for a Public Service Sick Leave Scheme. These Regulations are contained in SI 124 of 2014 and SI 384 of 2015. The Regulations set out the terms for the granting of paid sick leave, including that...

Written Answers — Department of Public Expenditure and Reform: Electric Vehicles (7 Nov 2017)

Paschal Donohoe: The motor mileage rates reimburse an officer only for the costs incurred in using their own cars for official business and are not deemed to be a source of emolument or profit. The rates are agreed with Staff Side Representatives and are determined by a methodology which takes account of the various costs associated with officers using their own cars on official business. The factors...

Written Answers — Department of Public Expenditure and Reform: Public Sector Staff Training (7 Nov 2017)

Paschal Donohoe: OneLearning, the new Learning and Development Centre for the Civil Service, is responsible for providing Civil Service Core Training.  As a newly established organisation OneLearning is in the process of developing appropriate training modules for all Civil Servants and making these available on an incremental basis. While specific suicide prevention training for civil service staff is...

Written Answers — Department of Public Expenditure and Reform: Departmental Websites (7 Nov 2017)

Paschal Donohoe: There is no company undertaking an audit of the Departmental website.

Written Answers — Department of Public Expenditure and Reform: Departmental Expenditure (7 Nov 2017)

Paschal Donohoe: The estimated cost of providing a defibrillator in each building used by my Department and the bodies under its aegis is €46,800.  This does not include the Office of Public Works who will provide this information to the Deputy separately. With regard to my Department itself, I can confirm that each of the buildings that Departmental staff occupy already has a...