Results 3,741-3,760 of 26,021 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: I understand that, but I am looking for clarification on the other point.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: In the case of Ireland, the deposit guarantee scheme will cover 1% of covered deposits, which is effectively about €900 million.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: Who would fund that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: Is there a fund for the current deposit guarantee scheme for deposits of up to €100,000?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: Is that the €250 million fund?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: There is one fund for the deposit guarantee scheme, which is a current fund for €400 million. There is also a proposal for a resolution fund, to be 1% of covered deposits, which will come to €900 million in the Irish context.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: Who is funding that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: Will this be separate to the resolution fund?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: So the resolution fund is being calculated on deposits.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: The eligible liabilities guarantee scheme finished on 31 March. What did the scheme cover?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: What is the proposal for the funding of the ESM? How much will Ireland be required to put up in respect of that scheme?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: The European resolution fund will be funded entirely by the banks.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: However, there is a question when one gets down to the pari passu in terms of the structures and the bail-in procedures, which need to be clarified. With these proposals, in what circumstances could the taxpayer be caught to make a contribution? That is what the ordinary person wants answered. Is this scheme bulletproof?

Written Answers — Department of Finance: Pension Provisions (16 Apr 2013)

Kieran O'Donnell: To ask the Minister for Finance when he expects that eligible persons will be able to avail of the new provisions in the Finance Act 2013 for the pre-retirement access to AVCs; the date eligible persons will be able to encash up to 30% of AVCs; and if he will make a statement on the matter. [17412/13]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Bank Charges: Discussion with Central Bank and ISME (17 Apr 2013)

Kieran O'Donnell: I welcome Mr. Sheridan and his colleagues, and Mr. Fielding. It strikes me that the banks have a kind of lucky dip of bank charges available to them since 1996. They can dip in or out of that well. This is a very abstract area for ordinary people, but it is not so abstract for people in business who are being hit with referral charges, unpaid fees charges and this, that and the other,...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Bank Charges: Discussion with Central Bank and ISME (17 Apr 2013)

Kieran O'Donnell: What legislation?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Bank Charges: Discussion with Central Bank and ISME (17 Apr 2013)

Kieran O'Donnell: Was that before 1996?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Bank Charges: Discussion with Central Bank and ISME (17 Apr 2013)

Kieran O'Donnell: Was it section 149 that came into effect in 1996?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Bank Charges: Discussion with Central Bank and ISME (17 Apr 2013)

Kieran O'Donnell: There would have been a stampede of banks before the legislation came in. I would say they were lodging the charges in truckloads to the Central Bank. This defies logic. Legislation was brought in. I would say the boys got up on their coach and four and drove into the Central Bank's front yard and said "Lads, keep the trucks coming because we want to get all these notified charges in...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Bank Charges: Discussion with Central Bank and ISME (17 Apr 2013)

Kieran O'Donnell: I apologise. I need a calculator. I do not want to lose my train of thought. My point remains valid. How in the name of God can banks bring in charges that they lobbed in before the legislation was introduced? Why were the brakes not put on at the time to prevent them from bringing in these charges? How many were notified before the legislation came into effect? How were they allowed...