Results 21,441-21,460 of 23,109 for speaker:Paddy Burke

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: When we consider the credit unions in the context of what happened with the banks and financial institutions, the language used by Ms McKiernan when speaking about them was very strong, which is very unfair. We have discovered that there was no net loss to the Exchequer overall on behalf of credit unions. The credit institutions resolution fund has been established. Where does Ms McKiernan...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: On deposits, Ms McKiernan says in her statement that she wants to see the credit unions attract younger borrowers. One has to have savings to be a borrower in a credit union. We have recently seen that some credit unions cannot afford to take in savings because all of their deposits have to be backed up. Does Ms McKiernan not think that there must be something wrong when the credit union...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: She does not have the crystal ball in front of her.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: Have any members' funds been lost over the years since the crash?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: I take it that no members' funds were lost in the basket case in Newbridge.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: What was the total loss in Newbridge?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: The liquidation in the Newbridge case is not finished.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: Does Ms McKiernan have any proposals for us as legislators? Does she require any additional legislation to help her to bring about some of the changes that might be needed in response to the outcry from the credit unions, which are frustrated at the moment? We are similarly frustrated.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: The regulatory reserve ratio seems to be a particular problem for credit unions because they are treated differently from the other institutions. It has been suggested that a change from a simple blunt calculation of the percentage of assets to a risk-weighted calculation, as pertains in other institutions, would avoid the crazy situation whereby credit unions have to reserve 10% of all of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: That might be a problem for some. Some credit unions might not be as big a risk as others but there does not seem to be any flexibility - it is one size fits all.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: It is €4 million.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: And no members lost.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: The shareholders would be happier.

Seanad: Order of Business (4 Apr 2017)

Paddy Burke: Perhaps they are looking for the Senator.

Seanad: Order of Business (4 Apr 2017)

Paddy Burke: I support what Senator Ó Ríordáin said about the Republic of Ireland women's national football team. I hope that no other Irish team such as the Ireland women's rugby union team is in similar circumstances. The Minister for Transport, Tourism and Sport should clarify the position because, as Senator Ó Ríordáin said, it is disgraceful. I support Senator...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Paddy Burke: I welcome Professor Lane and his staff to the meeting. One haulier told me that the cost of his insurance has gone up by 300% this year, which is an enormous expense. He also told me about a company in Poland which sells lorries to Irish people who insure them here at enormous cost. The same lorry is being sold in Poland with insurance fixed for four years. Something is wrong somewhere....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Paddy Burke: In respect of tracker mortgages, as members of this committee, we have received an enormous amount of letters, queries and questions we have been requested to ask. We are the voice of those people and we should be asking questions. However, we would be here until Christmas if we asked every question we have been requested to put to the Central Bank at this committee. Professor Lane passed...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Paddy Burke: So the witness has no comfort for the people who have genuine questions?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Paddy Burke: Does the Governor think that in situations where the bank has admitted that there is a problem, that the people affected should be paid part of their compensation and put back on a tracker rate straight away?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Paddy Burke: Professor Lane said that there was a culture in the bank of interpreting mortgage contracts in favour of lenders rather than borrowers. He also said there was a systemic and widespread aspect to it. Does he think there was a cartel in the banks?