Results 4,401-4,420 of 26,021 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Kieran O'Donnell: Sorry.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Kieran O'Donnell: I am taking seven minutes. I am pleased that Bank of Ireland has an operating profit, but to cut to the chase I am dissatisfied with what has happened this morning. Mr. Boucher is not facilitating the committee to enable us to do the work we are supposed to do, that is, to examine the position in quarter two and see exactly the type of sustainable solutions and offers the bank has made....
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Kieran O'Donnell: With due respect-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Kieran O'Donnell: I realise that, but I have limited time and want to keep it in ordinary layman's language. Mr. Boucher has referred us to page 15 and the residential mortgages heading, which is what we are looking at. The number of accounts in arrears for more than 90 days to which this applies is 3,603. Of these, 1,406 are full interest accounts. That does not fall within the terms of looking at...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Kieran O'Donnell: I have two quick questions. Will Mr. Boucher provide us with a breakdown of the 3,164 figure? I believe we are entitled to it now and that the public is entitled to it. How does Bank of Ireland define the legal process? Does it mean letters going out and so forth? I believe Mr. Boucher has the make-up of the 3,164 figure, but for whatever reason he is reluctant to provide us with it....
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Kieran O'Donnell: Why not?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Kieran O'Donnell: My time is limited. Without information relating to the figure of 3,164, we cannot do our work. I believe the bank has access to that information and obtaining it would involve nothing more than Mr. Boucher e-mailing a request to someone in his office. We could then get on with our work. Consideration should be given to doing that now. What is the position with regard to the legal process?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Kieran O'Donnell: No, I am interested in Q2. That is what we are here for and the figure for it is 3,103. Mr. Mason provided that earlier.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Kieran O'Donnell: So 1,500 legal letters were issued.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Kieran O'Donnell: And the balance?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Kieran O'Donnell: If Mr. Boucher can provide a breakdown in respect of the 3,103 cases to which I refer, he can also provide one in respect of the 3,164 mentioned earlier.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Kieran O'Donnell: I think Mr. Boucher could gain access to them - if the will was there - by sending a very quick e-mail.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Kieran O'Donnell: Mr. Boucher provided a breakdown to the end of July in respect of restructured loans. How many loans were fully restructured to the end of July?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Kieran O'Donnell: However, Mr. Boucher has not provided a breakdown to the end of June. He provided a global figure of 3,164 but did not supply a breakdown in respect of it.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Kieran O'Donnell: Mr. Boucher has not done so. In the context of the 3,164 that were restructured, Mr. Boucher has not provided a breakdown in terms of the provision of split mortgages, cash flow assistance-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Kieran O'Donnell: It is unsatisfactory.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Kieran O'Donnell: Some 1,500 letters went out in the case of the 3,103. What was the profile of the people to whom the letters were sent? AIB's representatives said yesterday that the letters were sent to people who had not made any repayments for three years. The witness went through the breakdown of the 3,103 very quickly. Can the witness outline the profile of the 1,500 and give the breakdown? I know...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Kieran O'Donnell: On the 3,164 figure, is it fair to say that well in excess of 50% of that is made up of a combination of interest and reduced payment? Is that a fair comment? If I conducted a pro rata exercise based on what the witnesses have said, the full interest would be approximately 40% and the reduced payment would be greater than 50%.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Kieran O'Donnell: So over 50% of it is made up of-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Kieran O'Donnell: I welcome the witnesses. I want to pick up on a few points. I want full clarification on the legal aspect. I am looking at quarter two, the figure for which I believe was 4,124. Mr. Brown said that 20% of those have now re-engaged. Were letters sent to all those people and what criteria would the bank use in terms of legal letters being sent out? For instance, in the case of AIB, that...