Results 2,461-2,480 of 5,587 for speaker:Kevin Humphreys

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Kevin Humphreys: Let us be reasonable. The bank has obviously investigated this and knows what the options for customers are. Has it looked to see exactly what the options are? If the bank exercises its veto, surely it has done the work to decide what the customer's other option is. When the bank has done that due diligence and examined it, it knows it is pushing people into bankruptcy. The only option...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Kevin Humphreys: I want to stick with this issue because I do not see any benefit to the bank in acting in this manner and exercising that veto. It is not good for the customer or the bank. Could Mr. Boucher explain the logic to me and explain where there is a better financial outcome for the bank when it exercises that veto?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Kevin Humphreys: That was a lovely speech. I am interested on the taxpayers' behalf because they have a 14% stake in the bank and saved the bank from the results of reckless lending so let us come back to the customer. The customer has gone through the procedures and there is an independent recommendation that there should be a write down on the mortgage where the bank still receives some payment. The...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Kevin Humphreys: The recommendation is good for the bank, the taxpayer and the bank's shareholders but because Bank of Ireland says it is going to play hardball, that it is the hardest one in the market and that it does not do write downs, it does not let that happen. That customer has gone through all the procedures. We know the mortgage is unviable and that the customer does not have the means to repay...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Kevin Humphreys: This gives a return to the bank. The customer has gone through the procedures. This is not a customer who has not engaged with the bank. They have gone all the way through.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Kevin Humphreys: The logic of what Mr. Boucher is saying is that because we are so tough, we have scared everybody else into performing. The bank is not acting in its best interests. It is not acting in the best interests of shareholders and it is certainly not acting in the best interests of the customer because they have engaged with the bank. The banks sends letters to them telling them to engage, which...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Kevin Humphreys: The last thing is not consistent with the bank's policy. This is important. We are not talking about a person who has not engaged. The customer has engaged with the service Bank of Ireland says it supports and advocates for. When it gives a recommendation at the very end when the person is put to the pin of their collar, the bank tells them to take a running jump.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Kevin Humphreys: Some months ago, I wrote to this committee and it was agreed that we would invite the Minister for Finance to come in to see how we would exercise this 14% shareholding in Bank of Ireland. I ask that we contact the Minister again and see if he will come in and attend this committee meeting to discuss how we will exercise the 14% shareholding by the taxpayer over which he exercises the voting...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Kevin Humphreys: I was addressing the Chair.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Kevin Humphreys: Does the Deputy accept that he voted the wrong way?

Order of Business (15 Apr 2014)

Kevin Humphreys: The Taoiseach has already indicated that the heads of the climate action and low carbon development Bill will be published immediately after Easter following the next Cabinet meeting. Will the Taoiseach clarify how long he expects it will take for the Bill to clear the House, because it is urgent? What is the position on the expert advisory group, which is part of the Bill? The Taoiseach...

Order of Business (15 Apr 2014)

Kevin Humphreys: What is the position on the expert advisory group?

Joint Oireachtas Committee on Environment, Culture and the Gaeltacht: Current Housing Demand: Discussion (15 Apr 2014)

Kevin Humphreys: I refer to the point about mortgage to rent and the attitude of the main banks. The finance committee has been speaking to the main banks. They are saying the opposite. However, I am more inclined to believe Mr. Brooks. I ask him to give an example because the example will always tell the story. He does not need to name the banking institution in question but I think I will be able to...

Joint Oireachtas Committee on Environment, Culture and the Gaeltacht: Current Housing Demand: Discussion (15 Apr 2014)

Kevin Humphreys: I would be delighted to speak to Mr. Brook about this at another time. It is one of the main issues that emerged from last week's discussions. Regarding NAMA's role in this, my view is that the houses are simply in the wrong places. That is why they cannot be sold and are in NAMA in the first place. The problem is that they are not located in places where people, in either the private or...

Joint Oireachtas Committee on Environment, Culture and the Gaeltacht: Current Housing Demand: Discussion (15 Apr 2014)

Kevin Humphreys: I understand the Sandyford scheme to which Mr. O'Gorman referred is in the Beacon South Quarter. If it proves successful, will Clúid or any of the other organisations look at rolling out that model on a broader scale? There is a social gain in providing that type of mix, quite apart from the benefit of providing houses.

Joint Oireachtas Committee on Environment, Culture and the Gaeltacht: Current Housing Demand: Discussion (15 Apr 2014)

Kevin Humphreys: Is there anything the delegates can see in the heads of the Bill that might block or delay that type of development? On the other hand, do they see anything in the heads that would assist them to roll out such a model to a greater extent? Finally, does the model we are discussing have any negative impact on the 80% funding the associations can borrow? Specifically, will they be able to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Kevin Humphreys: Perhaps you would let me know when I have five minutes left, Chairman, as I wish to raise another issue with the Minister. It is a little like the Minister talking about travelling in hope and taking a walk on the wild side. He is quite good with the story. We ought not to undersell the achievement. We should clearly note the 5,001 jobs that are being created and the positive effects...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Kevin Humphreys: I will proceed quickly because I wish to make a statement at the end. With regard to the €8.5 billion we hold in funding, which is to cover us for the next 12-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Kevin Humphreys: It is €18.5 billion. Am I reading it wrong in the Minister's document?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Kevin Humphreys: Yes. Is there a possibility of squeezing that? Obviously there is a cost in the NTMA holding that €18.5 billion. We made a slight improvement because we conducted some buy-backs of our bonds and saved a couple of hundred million euro in that regard. Is there an opportunity to squeeze that a little further? If one looks after one's pennies, the pounds look after themselves. Every...