Results 4,421-4,440 of 6,653 for speaker:Rose Conway-Walsh

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Rose Conway-Walsh: Reports in the media indicate that the number of deals done was down 17.4% and that there was a drop of 11.9% in the value corresponding with the second quarter in 2022. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Rose Conway-Walsh: Is Dr. Ugur saying there is no drop whatsoever in the number of figures of first-time buyers and that the increasing interest rates are having no impact whatsoever on the number of mortgages being taken up?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Rose Conway-Walsh: In terms of arrears, what provision have each of the banks made for bad debt this year as opposed to the bad debt provision that was made last year? Will Bank of Ireland start?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Rose Conway-Walsh: No, I am asking a very specific question here. In the banks' accounts, what specific provisions have they made this year compared to last year for bad debts?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Rose Conway-Walsh: Is it not material that it has been doubled? I know it has increased substantially, in terms of bad debt-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Rose Conway-Walsh: Why is that? Why has it increased by so much this year?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Rose Conway-Walsh: Did the regulations change from last year to this year?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Rose Conway-Walsh: That is what I am trying to get at. What are the drivers of making that assessment in terms of the risks? Obviously Bank of Ireland is making a determination that the risks are higher this year than they were last year in terms of the bad debt provision it needs to make. We have all of those drivers. What are the particular drivers? I think it is very important we have a view of them.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Rose Conway-Walsh: Obviously unemployment can be taken out of it given that we are obviously in full unemployment and there is such demand for labour, etc. That would almost be removed.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Rose Conway-Walsh: That is what I am asking. What assumptions is the Bank of Ireland making? Is it making assumptions in terms of the impact of the higher interest rates?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Rose Conway-Walsh: Are assumptions being made in terms of house prices being at peak, and affordability for people?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Rose Conway-Walsh: Okay, a downturn in house prices. How many applications are being turned down by Bank of Ireland because of affordability? Is there an increase in the number of mortgage applications that are being turned away because the stress tests are being done based on higher interest rates?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Rose Conway-Walsh: I take what Ms Russell is saying in terms of applications but how many are being turned down?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Rose Conway-Walsh: Okay, but Ms Russell is making increased provision for bad debt. What are the other banks' provisions for bad debt? Maybe Permanent TSB could answer.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Rose Conway-Walsh: What is it for the total year compared to last year? I just want to get an idea.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Rose Conway-Walsh: Was no provision for bad debt made last year?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Rose Conway-Walsh: Is it not Mr. Crowley's expectation that people will fall into arrears and the banks will therefore have bad debts because of the impact of the higher interest rates?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Rose Conway-Walsh: That is all taken as a given. I just want to get the 2022 and 2023-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Rose Conway-Walsh: Is Dr. Hunt not at all concerned that people cannot meet the hundreds of euro extra they have to pay every month for their mortgages? We know that on a yearly basis one person in five has an extra €5,600 to pay on their mortgages. That is not showing any signs whatsoever in the modelling.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Rose Conway-Walsh: That is very interesting but the witnesses talk about "pass-through", are they talking about the fixed ones as well?