Results 3,441-3,460 of 16,492 for speaker:Ciarán Lynch

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: Only one financial institution has completed a mortgage-to-rent application and it is a sub-prime lender. From outside observation, this would seem strange because the sub-prime lenders are very much the pariahs of the sector. They seem to have a more realistic view of the property values. Mortgage-to-rent is critically about realising the true value of the property because it must be...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: There are no assumptions. The price of an average house in this country is based upon the average wage by a certain multiplication. Since 2009, the Central Bank has given direct guidelines to Bank of Ireland and other banks as to what are lending practices. If one takes the average house in the country, applies the average industrial wage and multiplies that by three or four because one...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: I thank Mr. Boucher.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: It is mortgage-to-rent.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: What does that mean in plain language?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: What does that consultative process mean? Are there regulations?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: We are running out of time. The Deputy should ask a question.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: The Deputy has asked his question. I call Mr. Boucher.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: The Deputy has run out of questions. I call Deputy McNamara.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: In respect of the mortgage-to-buy scheme, a request was put to Allied Irish Banks yesterday, and I would be grateful if Mr. Boucher could facilitate this committee and provide it with an update at year's end as to the latest figures for the mortgage-to-rent scheme, if that is possible.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: We just want the figures as to how many of them have actually been completed. It will become a matter of public record one way or another, but I would be grateful if Mr. Boucher could facilitate the committee.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: I have one other item before I bring in Deputy Higgins. The issue of cash transactions also came up with AIB yesterday. I am referring to the financial connection points that companies have where one brings one's debit or credit card to a retail outlet like a shoe shop. Does Bank of Ireland provide that service to a number of retail customers throughout the country?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: To how many outlets does Bank of Ireland provide that service?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: Yes. It looks like a mobile phone. One puts one's credit or debit card into the end of it and pays one's bill.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: Did Bank of Ireland at one stage provide that service directly?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: Is that service on a rental or lease basis?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: There is a significant difference if the device is being rented or leased, especially in the current economic environment because if a company is renting and folds next week, the rent collapses with it, but if it is leasing, it may mean that it is locked into a long-term leasing agreement for a number of years which could have several thousands of euro outstanding. AIB has a leasing...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: Is the retailer a customer of the bank and does this other agent act as a third party or is it completely separate from the bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: As part of the recapitalisation, how much money did Bank of Ireland receive to deal with distressed mortgages or mortgage losses? A specific sum was given to write off mortgage losses and debt. How much did the bank receive?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: None at all? As part of the recapitalisation of the banks?