Results 25,521-25,540 of 26,733 for speaker:John McGuinness
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: He is a great man for passing the ball.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: I thank the Senator. I just want to go back to an issue I raised before with the Governor. It concerned Anglo Irish Bank, latterly the Irish Bank Resolution Corporation, IBRC. What is the position now regarding this entity?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: Yes.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: It does not exist.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: What role would the Central Bank have had regarding the IBRC? Was there any role for the Central Bank there?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: That was not a bank, it was just handling the-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: I suppose what I am asking is-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: -----when the IBRC took over the assets or whatever was left of Anglo and worked it out, did the Central Bank then regulate it?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: I am referring to the Irish Banking Resolution Corporation. Was that an entity regulated by the Central Bank?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: Ms Rowland cannot say whether the Central Bank was the regulator.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: Okay. Well, I know a complaint was made to the Central Bank about a transaction that took place going way back to the time of Anglo Irish Bank. This concerned a loan that was transferred to private accounts instead of to the entity. This is where the loan actually ended up. The farmers involved in this matter made a complaint to the Central Bank but little or nothing came of it. I was...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: It was a complaint that was ongoing. It just dates back over the last few years. It does not date back to Anglo Irish Bank and the early days.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: I was struck by the fact that the Central Bank seemed as if it had not gone into great detail regarding this matter. I would like to see this issue being investigated, or, at least, the Central Bank providing the information in this regard. I know the witnesses cannot do this here because I just landed them with the question. It concerns me greatly, though, that this happened and there was...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: I will do that. I will pass it to the witnesses after the meeting, just to be clear about it.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: There were a lot of different-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: If it was fraud or dodgy business, that needs to be exposed. If the central figures in it provide the witnesses with the information, I think that there should be a comprehensive-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: Yes. I also discussed with the witnesses previously about the accountancy profession, how the banks account for losses, and the advice given. There is a difference of opinion between the IFRS 9 and how banks account for losses. In other words, they do not have to account for losses completely in their accounts and the information and advice that they are getting is contrary to the European...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: Not everyone will be happy. I am wondering, however, whether the Central Bank will stick with it until all of the Belfry questions have been dealt with.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: Okay, I will send questions to the Central Bank then. Do banks get fined for that kind of-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: What about EBS as an example? That is nearly finished. Again, will the Central Bank oversee it until the end and will there be fines?