Results 15,101-15,120 of 26,076 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: Is that 70% of the value?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: Could Mr. McDonagh equate that to the number of loans? Would it be 70% of debtors?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: That is significant. What are Mr. McDonagh's thoughts on the remaining debtors? It is more or less the same, about 75%. The total loans taken over by NAMA were valued at about €74 billion.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: What is left of those?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: NAMA took over approximately €35 billion.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: What level of that is left?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: Yes, carrying value.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: What are Mr. McDonagh's thoughts on how that will unfold?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: This is my final question.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: From now on, will there be a large sell-off of portfolio of loans?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)

Kieran O'Donnell: We can pair among ourselves here.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)

Kieran O'Donnell: In her presentation Ms McKiernan stated: "The key indicator of sector growth potential – the loan-to-asset ratio - has fallen to 28% from its 2008 level of 52%." What loan-to-asset ratio does she believe a credit union should have to ensure it is viable in the long term?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)

Kieran O'Donnell: I have dealt with credit unions on a professional level for many years and have great time for them. They kept small businesses operating in instances where the banks would not give them funding. They have cost the State €20 million to date, while the gross cost to it of bailing out the banks to date has been €64 billion. Anglo Irish Bank will cost us €30 billion, yet...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)

Kieran O'Donnell: What does Ms McKiernan regard as being their core lending in terms of the nature and period of such lending? What does she, as regulator, regard as core?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)

Kieran O'Donnell: What does Ms McKiernan define as "short-term"?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)

Kieran O'Donnell: Does Ms McKiernan think it valid to state that the restrictions being put in place will, by stealth, force credit unions to amalgamate?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)

Kieran O'Donnell: Has it been looked at-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)

Kieran O'Donnell: I am limited in terms of time. I understand what is being said but has the registrar examined the possibility of providing back-up services? The credit union movement is based on community. A person is able to go to the local credit union and deal with someone he or she knows. In my experience, most people want to repay their credit union loans. My worry is that credit unions will get...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)

Kieran O'Donnell: Correct.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)

Kieran O'Donnell: I will conclude on this point. The credit unions will not be able to grow their loan books unless the restrictions are somewhat lifted. How can we get to a point where the registry will feel comfortable enough to lift the restrictions so that they can grow their balance sheets again? They are currently shrinking and if that process continues, they will not survive.