Results 48,321-48,340 of 49,836 for speaker:Stephen Donnelly
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Stephen Donnelly: Would Mr. Bell be willing to provide the committee with that confirmation from the Central Bank?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Stephen Donnelly: If that is what the Central Bank says and Mr. Bell has confirmation of that, I guess that when the Central Bank audits the bank's figures, it will show that the bank has hit them. I do not believe the legal letters meet the spirit of what the Government is trying to do here. I believe the real figure is 1,048, which is 6% rather than 20%. However, what Mr. Bell is saying is that Ulster...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Stephen Donnelly: I am not remotely show boating.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Stephen Donnelly: I did not know that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Stephen Donnelly: I thank Mr. Bell for that explanation. It seems that Ulster Bank has engaged in debt write-downs in terms of voluntary surrender. I have read reports where Mr. Brown is reported as saying that Ulster Bank will not engage in debt write-downs. What is the bank's position on debt write-downs being part of some solutions?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Stephen Donnelly: As part of a personal insolvency arrangement, is the bank's policy that no personal insolvency arrangement will include a debt write-down?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Stephen Donnelly: I believe the approach the Government is taking with the arrears targets is wrong but it is doing it in good faith and is trying to deal with the fact that there is too much unsustainable household debt. The solutions offered by Bank of Ireland in at least 90% of the cases, and I bet there are more, actually increase the total amount those households will end up paying the bank. If I was in...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Stephen Donnelly: The key to this is sustainability. One of the questions which has not been asked is how Bank of Ireland defines sustainability. For example, I will quickly give-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Stephen Donnelly: How does the bank define sustainability when it is deciding what restructured offers to make to borrowers?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Stephen Donnelly: How does the bank define "afford"?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Stephen Donnelly: Can we see those guidelines?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Stephen Donnelly: I welcome Mr. Boucher and his team today. I want to recognise the ongoing increase in the performance of Bank of Ireland across a range of metrics. That is to be recognised. For me and members of the committee, as public representatives, the concern is that some of that performance is coming at the cost of customers who were unfortunate to borrow too much money from Bank of Ireland during...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Stephen Donnelly: The total amount paid, if one is on capital and interest, one goes on interest only for two years and one then goes back to capital and interest-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Stephen Donnelly: Yes.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Stephen Donnelly: I do not need to go through that. I merely want to know if Mr. Boucher agrees that putting someone on interest only for a period and then moving him or her back where he or she can pay out the capital and interest over time, increases the total payments to the bank over the period of that mortgage.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Stephen Donnelly: Fine, I thank Mr. Boucher.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Stephen Donnelly: I thank Mr. Boucher.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Stephen Donnelly: I have only seven minutes.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Stephen Donnelly: I understand. I am going to move on. There is another 20% which are on reduced payment. Obviously, these are temporary as well. In this case, the amount of capital being paid - let us say, over an 18-month period - is reduced and the full interest is paid. Would Mr. Boucher agree that, in this case as well, the total amount paid by a household to the bank over the term of the full...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Stephen Donnelly: I thank Mr. Boucher. With term extension, the customers pay capital and interest, but they pay the capital over a longer period of time. These account for 30% of the restructures - we are now up to 80% of all restructures. Would Mr. Boucher agree that term extensions also increase the total amount that a household will pay relative to what was expected when the mortgage was taken out?