Results 3,361-3,380 of 36,054 for speaker:Pearse Doherty
- Written Answers — Department of Education and Skills: State Examinations (25 Oct 2012)
Pearse Doherty: To ask the Minister for Education and Skills if he will provide the data in relation to the number of applicantions that have been submitted to his Department for secondary school students with special needs who may have special arrangements made for them while sitting State examinations in 2013; if he will provide data regarding the number of applications for special accommodations submitted...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: I thank the witnesses for the presentation. I appreciate the job they have at hand. Along with other members of this committee, I ask many parliamentary questions, which are sometimes unrelenting as the witnesses mentioned in the earlier address. It is important that we, as legislators, do that. When we consider where NAMA has found itself in recent weeks, sometimes when we think the ship...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: At the end of March each year, the State provides €3.1 billion, some of which is in interest given how the pro-note is structured and some of it is in capital. IBRC takes the €3.1 billion and transfers that to the Central Bank to pay down the liabilities it has to the euro system in the Central Bank of Ireland. The bank does not retain any of the interest paid.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: To be clear, every year when the payment is made by the State to the IBRC, it will be transferred to pay down the ELA liability. I just want to be clear about this to make sure there is no retention of some of it and that all of it is transferred to write down the ELA liability which is written down by a corresponding amount.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: Based on the figure of €25 billion required from the State to the IBRC and the timeframe for paying it - capital plus interest minus the ELA that must be paid to the Central Bank - the interest is in respect of the period to 2020. If things run as normal, when the last €3.1 billion is transferred on 31 March 2020, the IBRC will have paid off all of the ELA liability and met all...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: Will Mr. Bradley explain that again?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: And an ELA liability.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: Of course. It is based on the premise that the IBRC's loan book will have been sold off and wound down at that stage and that the IBRC will have nothing left by 2020 in terms of the ELA liability and the promissory note. If the figure of €25 billion is correct, 2020 will be the point at which this should have been achieved and the bank could be closed down.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: Will Mr. Bradley tell the committee the total payment to be made in March, including the Government bond?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: Yes.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: In respect of its purchase by Bank of Ireland, does the agreement stipulate that it will only hold it for one year?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: It is a payment of €3.1 billion on 31 March, with another payment of €3.3 billion in June 2013?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: There has been much discussion about the restructuring of the promissory note. One of the suggestions involves the use of the ESM, although it is very unlikely, given what the Germans and others have said, or another agency for a long-term bond. This would mean that the €25 billion in capital the bank requires could be front-loaded as a long-term bond. If that was to happen, has the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: It has been mentioned before at this committee that the restructuring of this note could cost the State more money in the immediate term and have an impact on the banks. Is the bank not directly involved in the discussions with the Minister for Finance?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: I am well aware of that. Sinn Féin recently met the troika which informed us that there was no common paper, that there was a number of individual papers. The Government and the ECB have their own papers. Has the bank's opinion been sought on any or all of these papers on how it would work for it?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: Mr. Dukes said there had been quite a reduction in staff number-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: I will be quick. About 25% of the staff at the time of nationalisation are in place. This time last year the bank informed me that 22 of the top 50 executives within it at the time of nationalisation were still in place. A total of 19 of them were being paid over €175,000. Will Mr. Dukes give us an updated figure for how many of the top 50 executives at the time of the crash are...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: I note that staff costs have actually come down by 4% compared to this time last year, from €56 million to €54 million if my figures are correct. However, there has been a drastic reduction in staff numbers over a number of years. Are staff receiving pay increases or performance bonuses? Why are staff costs not coming down in proportion with the reduction in staff numbers?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: What is the highest paid position within the bank in monetary terms?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: In monetary terms - I was not looking for the title. We could all have guessed it was the chief executive officer.