Results 26,501-26,520 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tracker Mortgages (4 Apr 2017)

Michael Noonan: The Central Bank has indicated that the scope of the Tracker Mortgage Examination covers both contractual rights of and transparency of communications with tracker mortgage customers.  Issues in relation to margins will be dependent on contractual conditions, transparency and content of the documentation and disclosures made to individual customers concerned and, therefore, circumstances...

Written Answers — Department of Finance: Tracker Mortgages (4 Apr 2017)

Michael Noonan: I have received the following information in response to the Deputy's question: Permanent tsb Permanent TSB had the below tracker rates available to New Home Loan (PDH) customers on 1st January (2008 to 2013).  With regard to this the following should be noted: - Where a range of rates / margins is quoted this varied depending on loan circumstances (eg. Loan to Value (LTV) and / or Loan...

Brexit: Statements (Resumed) (5 Apr 2017)

Michael Noonan: Every Member of this House will agree that Brexit presents major challenges for Ireland given the potential implications for the economy and trade, the Northern Ireland peace process, the maintenance of the common travel area and the future of the European Union. These are the Government's priorities and we have been preparing solidly to defend them over a long time. Our preparation to date...

Written Answers — Department of Finance: NAMA Social Housing Provision (5 Apr 2017)

Michael Noonan: The Deputy will be aware that NAMA has made a significant contribution, on a commercial basis to the delivery of social housing, through working closely with the Department of Housing, Planning, Community & Local Government and the Housing Agency. To end 2016, NAMA offered 6,941 vacant houses and apartments owned by debtors and receivers to the Housing Agency, who...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (5 Apr 2017)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT, up to a certain limit, on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, payment of a fuel grant, and an exemption from Motor Tax. To qualify for the Scheme an applicant must be in possession of a Primary Medical...

Written Answers — Department of Finance: Bank Branch Closures (5 Apr 2017)

Michael Noonan: I propose to take Questions Nos. 123 and 130 together. I should say at the outset that I note with regret that Ulster Bank is closing a significant number of branches with considerable negative impacts on both staff and customers alike.  However, I should stress that the Irish Government has no formal role in the commercial decisions of Ulster Bank, or any other bank, as to...

Written Answers — Department of Finance: Help-To-Buy Scheme Data (5 Apr 2017)

Michael Noonan: I assume that the Deputy's enquiry relates to the Help to Buy scheme (HTB). Applying to the Revenue Commissioners for the HTB incentive is a two-stage process. Individuals must first submit an application for the incentive to receive an indication of the level of tax relief that may be available to them, and subsequently submit a claim for a tax refund where they have entered into a...

Written Answers — Department of Finance: Brexit Issues (5 Apr 2017)

Michael Noonan: The Department of Finance has been assessing and preparing for the impact of a British exit from the European Union since well before the referendum on 23 June 2016. The challenges which we face as a result of Brexit are mainstreamed across all divisions of my Department and this is reflected in business planning. Work conducted in the Department to assess the potential economic and...

Written Answers — Department of Finance: Economic Competitiveness (5 Apr 2017)

Michael Noonan: Significant progress has been made in recent years in improving Ireland's competitiveness.  The latest figures from the Central Bank of Ireland, show that Ireland's real harmonised competitiveness indicator (a widely used measure of competitiveness in Europe) has improved by over 20 per cent between its peak in 2008 and February 2017. This improvement has occurred notwithstanding the...

Written Answers — Department of Finance: Mortgage Lending (5 Apr 2017)

Michael Noonan: I propose to take Questions Nos. 127 to 129, inclusive, together. The statutory framework for the Central Bank of Ireland macro-prudential rules on residential mortgage lending is Regulations made under the Central Bank (Supervision and Enforcement) Act 2013. In this context, S.I. No. 47/2015 (the statutory instrument which implements the mortgage measures) provides that a...

Written Answers — Department of Finance: Consultancy Contracts Data (5 Apr 2017)

Michael Noonan: I wish to advise the Deputy that of the 18 bodies under the aegis of my Department, 15 have indicated that they have not engaged the services of private investigation firms in the past five years to date in 2017.  In relation to the 3 remaining bodies under the aegis of my Department, the Investor Compensation Company Limited and the National Treasury Management...

Written Answers — Department of Finance: Brexit Issues (5 Apr 2017)

Michael Noonan: I propose to take Questions Nos. 132 and 133 together. The Assistant Secretary who heads the EU and International Division of my Department has been designated as the lead official in the Department for Brexit matters.  A dedicated Brexit Unit within the EU and International Division was established in July 2016 to oversee and coordinate Brexit work across the entire...

Written Answers — Department of Finance: Credit Unions (5 Apr 2017)

Michael Noonan: My role as Minister for Finance is to ensure that the legal framework for credit unions is appropriate for the effective operation and supervision of credit unions. Credit unions are regulated and supervised by the Registrar of Credit Unions at the Central Bank who is the independent regulator for credit unions.  Within her independent regulatory discretion, the Registrar acts...

Written Answers — Department of Finance: Connectivity Fund (6 Apr 2017)

Michael Noonan: The Connectivity Fund was established as a sub-fund of the Ireland Strategic Investment Fund (ISIF) to invest the €335 million proceeds from the sale of the State's shareholding in Aer Lingus with the aim of enabling and enhancing Ireland's physical, virtual and energy connectivity. The ISIF has completed the first two investments from this fund with a combined value of €57...

Written Answers — Department of Finance: Help-To-Buy Scheme (6 Apr 2017)

Michael Noonan: I assume the Deputy is referring to the Help to Buy (HTB) tax incentive. As the Deputy will be aware, the HTB incentive was initially announced on 19 July 2016 as part of 'Rebuilding Ireland: Action Plan for Housing and Homelessness'. This plan contains a significant volume of responses to the current housing crisis, of which the HTB incentive is just one.  The...

Written Answers — Department of Finance: Public Interest Directors Data (6 Apr 2017)

Michael Noonan: The date of appointment and date of resignation/cessation of office for each of the public interest directors appointed at AIB, BOI and PTSB are as follows: Bank Appointed Resignation/cessation Allied Irish Banks Dick Spring Jan-09 Dec-14 Declan Collier Jan-09 Jun-12 Bank of Ireland Tom Considine Jan-09 Still in office. Joe Walsh* Jan-09 Nov-14 Permanent TSB Margaret Hayes...

Written Answers — Department of Finance: Tracker Mortgages Examination (6 Apr 2017)

Michael Noonan: The Framework as set out by the Central Bank for conducting the Tracker Mortgage Examination makes it clear that the Board of each lender is responsible for ensuring that the appropriate governance framework and controls are put in place to ensure the successful delivery of the Examination Plan. As part of the governance framework, the Board of each lender is required to establish a...

Written Answers — Department of Finance: Tracker Mortgages Examination (6 Apr 2017)

Michael Noonan: As the Deputy is aware, lenders have been required to appoint external independent third party assurers to oversee the Tracker Examination and to ensure that it is being carried out in line with the Central Bank's Framework for the conduct of the Tracker Examination.  However, the Central Bank has informed me that it is not in a position to comment on the third...

Written Answers — Department of Finance: Tracker Mortgages Examination (6 Apr 2017)

Michael Noonan: I propose to take Questions Nos. 105 and 106 together. The Central Bank has advised that all mortgages within the scope of the Examination are to be reviewed regardless of whether or not documents in respect of such mortgages are available to lenders. As set out in the Examination framework, in circumstances where relevant documents are not available, lenders are to ensure that this will work...

Written Answers — Department of Finance: Tracker Mortgages Examination (6 Apr 2017)

Michael Noonan: I have been advised by the Central Bank that, as set out in the framework for conducting the Examination, the Statute of Limitations does not apply to the Central Bank's powers to enforce compliance with regulatory requirements including those relevant to the Tracker Examination and it does not negate lenders' obligations to comply with the relevant regulatory requirements set out by the...