Results 3,381-3,400 of 34,778 for speaker:Seán Fleming
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: I will not have the Chairman interrupt my time allocation.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: Can I ask whether the Minister for Finance, Deputy Noonan, provided new terms of reference to Mr. Considine in his role as a public interest director?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: A question was raised about the public interest directors' remuneration. Who pays for that remuneration?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: There would have been a question about whether the taxpayer was paying it, so I wanted Mr. Considine to clarify that he was not being paid by the taxpayer.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: On the investment by the taxpayer in Bank of Ireland in particular, it was mentioned that it was €4.8 billion, but approximately €1 billion has been paid off and the State is receiving an interest rate of 10%, which is a high rate, on most of the remaining investment. I estimate that approximately 5% of the €64 billion that has been put into the banking sector in this...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: I wish to separate Bank of Ireland from all the other failed banking institutions that we have had before the committee on various occasions such as Anglo Irish Bank, Irish Nationwide Building Society and AIB, which are totally State owned. Yesterday we had Irish Life & Permanent before the committee. The maximum State involvement in Bank of Ireland was of the order of 30%. It has...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: I am in possession at the moment.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: Deputy Mathews can make his point of order when I am finished.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: Who owns the 15% shareholding on behalf of the State? Is it the Minister for Finance or the NTMA?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: It would be remiss of me as an opening speaker not to mention the credit card interest rate increase. The public is annoyed with the increase in credit card fees coming up to the Christmas spend. Every member is dissatisfied with the announcement in recent days on the issue and is reflecting the public view. How many card holders does the bank have and how many people will be affected by...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: Does it apply to her credit card? What category of credit card is affected by the decision? Does either witness know how many cards, or what percentage of them, will be affected?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: I was up early too.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: Is Mr. Walsh saying that approximately half of card holders do not pay interest anyway if they clear their accounts?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: Of a total of 500,000 cards, 91% are active, which is approximately 450,000 active credit cards. I expect 250,000 of those pay up each month. Therefore, approximately 50% of people do not pay interest at all, which leaves approximately 200,000 customers paying interest on their credit cards. Mr. Walsh said 4% have Clear cards and there are also those who hold Classic cards. What is the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: Is that an annual rate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: Is it correct to say, therefore, that approximately 90% of the 200,000 people had an increase of 0.7% on their credit cards?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: It appears that 20,000 or 30,000 people will be affected by the larger increase in interest rates of 4% and 2%. Am I in the right region?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: How many such cards exist?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: I was worried that all of the 500,000 cards would be affected by the increase but it appears that approximately 5% of them will be affected by the major increase.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: That is the general picture.