Results 13,361-13,380 of 26,053 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
Kieran O'Donnell: The Central Bank did not take up the specific cases over which the ombudsman would have given it sight. If he spotted a case that clearly fell within the examination's remit, the Central Bank would obviously take it up.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
Kieran O'Donnell: My next point is slightly unrelated. An issue that has become a feature, particularly in the past six months, is the level of concentration of property within the control of vulture funds or whatever one wants to call them. I can only speak from my experience in Limerick. If property comes up for sale in a large block of apartments or the like, in most cases it will be under the control of...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
Kieran O'Donnell: Yes.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
Kieran O'Donnell: Control rather than ownership. The loans are held-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
Kieran O'Donnell: Ultimately, control of the direction of the properties in question is held by the vulture funds.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
Kieran O'Donnell: It was not particularly a feature up until now. Even though the vulture funds controlled the property, the property was at a relatively depressed price. In the meantime, many of the loans have been sold on by NAMA and are controlled by vulture funds. In some cases, receivers are being appointed, which means that the properties in question will be sold to realise the assets' value. If...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
Kieran O'Donnell: No.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
Kieran O'Donnell: I would not-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
Kieran O'Donnell: I accept that, but perhaps the Governor will take my observations on board and build them into the Central Bank's analysis of the system in Ireland. I am encountering this on the ground. Funds control a significant number of properties that are either for sale or about to come up for sale. It is becoming a feature.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
Kieran O'Donnell: I thank Professor Lane.
- Seanad: Order of Business (17 Jan 2018)
Kieran O'Donnell: Like my colleagues, I wish everyone well in the new year. I also join everyone else in congratulating the Leader, Senator Buttimer, on his recent marriage and in wishing him well. I want to raise a specific issue. There have been quite a number of debates on health. I wish to refer to the city where I reside, Limerick. People speak about issues relating to management and systems. The...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Kieran O'Donnell: I welcome the Minister and his colleagues. In the context of when the banks came before him - perhaps this has been reported, why is Ulster Bank so far behind the line? KBC is a much smaller institution. Why is Ulster Bank so far behind the line in terms of the timeframe and dealing with the tracker mortgage issue?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Kieran O'Donnell: My main reason for making that observation is that, with the exception of KBC, the other institutions appear to be trying to rectify the matter much more quickly than Ulster Bank. Ulster Bank appears to be a long way behind. Regardless of whether someone is a customer of Ulster Bank, AIB, Bank of Ireland or any of the other institutions, he or she should not have to wait so long....
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Kieran O'Donnell: As such, will these directors be there purely on the basis of the State holding shares in the respective institutions?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Kieran O'Donnell: Will their role differ from that of public interest directors?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Kieran O'Donnell: The Minister made a very interesting observation on the interest charged by the banks. He made reference to non-performing loans. It is a new observation in our dealings with the banks. I have two questions. When the banks reach the point at which they have dealt with the non-performing loans, how much difference will that make to the interest they charge relative to European norms?...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Kieran O'Donnell: We welcome the great work the Minister has done in meeting the banks in respect of the tracker mortgages issue. How does the Minister regard the current financial state of the institutions in which we are invested?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Kieran O'Donnell: Representatives of AIB came before the committee before Christmas. The CEO of AIB expressed the view that selling the State's stake in AIB should be considered. I read the interviews the Minister gave over Christmas. What is the Minister's strategy for the State to divest itself, over a period, of its share in various institutions? Does he have a view or a strategy? As much as anything...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Kieran O'Donnell: I thank the Minister.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Kieran O'Donnell: I had a case before Christmas involving one of the mainstream banks. I do not want to get into it in detail but this was a young lady with a young family who rang me at approximately 6.30 p.m. a week or so before Christmas. An individual had called on behalf of the bank to serve papers on her, and to say she was petrified would be an understatement. I put her straight onto someone who is...