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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: Did they all start doing it at the same time?

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: Have any sanctions been imposed by the Central Bank on any of the 15 lenders?

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: Has the Central Bank published any guidelines relating to circumstances in which tracker mortgages should be restored to customers?

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: Each bank designs its own scheme. Has the Central Bank changed the schemes of any lenders?

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: It was suggested that a lot of financial institutions would come here in the wake of Brexit. That does not now seem to be the case. There are difficulties with some of them coming here, possibly because financial services are going to jurisdictions with more relaxed regulation.

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: There seems to be some difficulty. We do not seem to be as popular a destination as first thought.

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 know a question has been asked already about loans acquired by vulture funds. It has been reported that those customers affected are feeling the heat since with extra pressure to pay exorbitant interest rates. The Governor said the original lender will eventually pay the compensation and so forth in the tracker issue. However, can something be done about the pressure the vulture funds...

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: The Governor said before that 8,200 customers were affected.

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: Could it still be rising?

Seanad: Order of Business (12 Apr 2017)

Paddy Burke: Why not go over to them?

Seanad: Order of Business (12 Apr 2017)

Paddy Burke: Why not go and meet investors?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Paddy Burke: Thank you, Chairman, for arranging to bring Mr. Sugarman before the committee. I welcome Mr. Sugarman. Why does Mr. Sugarman think he was not invited to the banking inquiry?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Paddy Burke: Did Mr. Sugarman make any submission to the banking inquiry? Did he send in any articles voluntarily?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Paddy Burke: Did Mr. Sugarman work with other financial institutions before he took up his position with that bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Paddy Burke: Mr. Sugarman was working here in Dublin as an economist. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Paddy Burke: Therefore, Mr. Sugarman had all the qualifications. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Paddy Burke: Mr. Sugarman had the necessary experience when he made those recommendations and brought them to the attention of the Central Bank. He had all the necessary experience and so on. Is that the case?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Paddy Burke: Did Mr. Sugarman speak to any of his counterparts in any of the other banking institutes or other banks, such as AIB or Bank of Ireland? Did he explain that his bank had a problem? Did he ask whether there were similar problems in any of the other banks?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Paddy Burke: Yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Paddy Burke: We know the way bankers meet. We had a situation where one bank was doing bed and breakfast with another bank. Mr. Sugarman had no inkling that the other banks were having problems with liquidity as well. Is that the case?

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