Results 14,621-14,640 of 26,053 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: I have given an example that is becoming more common as the day goes by.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: In layman's terms, will Mr. Stanley describe what the bank will do for a person who has negative equity in an apartment and they are living in a rented house and paying €1,000 a month, which is not uncommon now. What would the bank do in their case? If the apartment were worth €130,000 and they have a mortgage on it of €150,000 and they identify a family home which they...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: Have many of these loans gone through?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: Chairman, on a point of clarification and I am reverting to a previous point, in respect of the global restructuring group, in which 90% of the loans were sold on to vulture fund. What level of discount would have been given generally on the sale of the properties?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: Would it be unreasonable-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: The Chairman took the words out of my mouth.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: How much did Ulster Bank get for that gross debt?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: What was the total level of loans in the restructuring group?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: Would it be reasonable to say that it was probably in the order of €16 or €17 billion?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: Of the €14 billion, would it be unreasonable to say that the discount was of the order of 50% or more?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: From the point of view of the ordinary person looking at these proceedings and the small and medium enterprise, SME, Ulster Bank has a very strong presence in Limerick, where I am from, and it would be fair to say that Ulster Bank would have been pushing SME lending, particularly among the farming community and among SMEs. It would have had a reasonably good track record and brought some...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: Would Ulster Bank have got that in writing?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: Was there a line in the agreement between Ulster Bank and the vulture funds that upheld the rights of the SME's loans to the effect that they would be entitled to the same terms and conditions that were available to them under Ulster Bank?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: Did the bank get that in writing from the vulture funds?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: The bottom line is that the way these people are being treated by the vulture funds appears to be in reasonably stark contrast to the way they were being treated by Ulster Bank. The bank did not get it in writing, legally, that the customers would be treated in the same fashion.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: Yes.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: Finally, why did Ulster Bank sell virtually the entire global restructuring loan book to vulture funds?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: Would it not be fair to say that in terms of the sale of those loan books, some of those were performing loans?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: Mr. Blair does not disagree with that point.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: Why would Ulster Bank sell on performing loans if they are making a return to the bank?