Results 47,621-47,640 of 49,836 for speaker:Stephen Donnelly
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)
Stephen Donnelly: Is Mr. Mac Donncha saying that someone in the Department has asked whether this adversely affects the ICS borrowers?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)
Stephen Donnelly: What is the Department's answer to that question?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)
Stephen Donnelly: If the Department does not know whether there is any difference in approach to mortgage resolutions being used with ICS customers versus Bank of Ireland customers, how can it conclude that the ICS customers will not be adversely affected by being subsumed into Bank of Ireland?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)
Stephen Donnelly: Mr. Mac Donncha has checked.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)
Stephen Donnelly: No one in the Department has checked.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)
Stephen Donnelly: I am not aware whether anyone else in the Department has checked. It would not be my role to check that relationship in terms of ICS and Bank of Ireland.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)
Stephen Donnelly: Whose role would it be?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)
Stephen Donnelly: I will leave that point which, I hope, has been reasonably well made. I do not believe the Department is asking the question as to whether this adversely affects the ICS customers in a meaningful way if no one in the Department has checked whether they are currently being treated in a different way. The answer may be that they are all under the CCMA but AIB and Bank of Ireland customers are...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)
Stephen Donnelly: I thank the witnesses.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)
Stephen Donnelly: It is not. Deputy Doherty has covered this. That may be what will be contained in the Bill, but it is clear that Bank of Ireland will have a requirement to sell on many of these assets and it is not true to state that all we are looking at here is a transfer from ICS to Bank of Ireland. We are clearly looking at a transfer from ICS to Bank of Ireland to a third party. I cannot think of...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)
Stephen Donnelly: I appreciate that it is not a foregone conclusion, although it would be most peculiar for any commercial entity to purchase a platform and not have a mortgage book behind that platform already working away. That would be a bizarre situation. While I accept that it is not a foregone conclusion, it is highly likely. One will not buy a platform without bringing the mortgage book in with it....
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)
Stephen Donnelly: Right.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)
Stephen Donnelly: Does this effectively shut out ICS? The conversation we have just held suggests that ICS, as a brand and a retail network with all its IP, whatever that IP may be, will continue to exist. From the public's perspective, it will not see anything. This is an ownership issue. Essentially, ICS will continue to operate. The staff will continue to be employed. There will, undoubtedly, be a...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)
Stephen Donnelly: I thank Mr. Mac Donncha. Certainly, it is ironic for me to be concerned about loans leaving Bank of Ireland. To have one's mortgage owned by an unregulated entity will be an unenviable position for these mortgages holders to be in. Are they aware of any difference in approach to mortgage resolution solutions being applied to ICS customers as opposed to Bank of Ireland customers? On the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)
Stephen Donnelly: Has the Department looked into that?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)
Stephen Donnelly: I thank Mr. Mac Donncha.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)
Stephen Donnelly: Most, not all of them. Some of them have no protection from the CCMA.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)
Stephen Donnelly: The reason I ask is that it is possible that ICS is getting a different suite of mortgage solutions and I fail to see anyone from Government or the Department, which goes to the heart of what is happening in IBRC, asking what are the implications of this law or policy for mortgage holders. Clearly, no one in the Department has asked that question in terms of IBRC. The Minister, Deputy...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)
Stephen Donnelly: I will begin where Deputy Doherty left off. I would love to share Mr. Newton's optimism but I do not trust the European Commission for one second, given all that it has been party to in respect of this country. Nor do I trust the Government, because the Minister, Deputy Noonan, has no difficulty allowing sales to happen without any protections of the type of which Mr. Newton speaks. For...
- Leaders' Questions (26 Mar 2014)
Stephen Donnelly: Yesterday, the Taoiseach told Members that a group within An Garda Síochána, perhaps a secret group, has been bugging gardaí, Irish citizens and their lawyers for several decades. When I heard this, it sounded to me like the actions of the old Stasi in East Germany. As all Members are aware, the implications for cases before the courts and for existing sentences are unknown...