Results 4,441-4,460 of 26,021 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)

Kieran O'Donnell: Approximately 20% are in arrears and it is 35% of that 20%.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)

Kieran O'Donnell: That is approximately 7% or 8%, which is very high. Finally, in the presentation Mr. Brown made reference to-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)

Kieran O'Donnell: It is still very high.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)

Kieran O'Donnell: Is Mr. Brown surprised by how high it is? What is the relative figure in the North?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)

Kieran O'Donnell: While it is not quite double, there is a significant difference. It is actually higher than AIB's level. The latter bank has put out a figure to the effect that 20% of its customers in arrears are strategic defaulters. Ulster Bank is telling members that it is 35%. Does Ulster Bank have empirical evidence for that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)

Kieran O'Donnell: Is that for the parked capital?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)

Kieran O'Donnell: Could Mr. O’Sullivan please recap on that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)

Kieran O'Donnell: Is that then processed?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)

Kieran O'Donnell: Are all those people-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)

Kieran O'Donnell: I want to delve into the figures we have been provided with. Slide No. 1 sets out what was provided in the return to the Central Bank. How many of the 1,600 legal proceedings set out on the slide are expected to end up in repossessions? Slide No. 2 outlines PTSB's overall business. Does it include customers fewer than 90 days in arrears?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)

Kieran O'Donnell: How many of the 21,600 customers listed for the end of September are in arrears for 90 days? The return on assisted voluntary sales was 800, which makes up 12% of the 6,650 figure returned to the Central Bank, went up to 1,000 at the end of June and between June and the September it increased by 100% to 2,000. That equates to 500 repossessions or assisted sales per month, which is a very...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)

Kieran O'Donnell: How much is being lost on the tracker loan book? My question is related to the issue of viability. Is PTSB engaging in writing off mortgages?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)

Kieran O'Donnell: How many of those are expected to end up in repossessions?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)

Kieran O'Donnell: Mr. O'Sullivan cannot give me a figure.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)

Kieran O'Donnell: In the limited time I have left, I ask Mr. O'Sullivan to address my question on assisted voluntary sales because they appear to be escalating at a drastic rate. Why is that the case and have alternatives been offered to customers? Clearly, some of them are in arrears for fewer than 90 days because they do not tie into the figures. I ask for an explanation for this.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)

Kieran O'Donnell: I will cut to the chase because I have very little time. People are coming to my office with offers from PTSB on the assisted voluntary sale route. I question whether these customers are being provided with alternatives prior to reaching that point. How did the figure for voluntary sales increase from 800 at the end of June to 2,000 two months later?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)

Kieran O'Donnell: I do not have the time for this because the clock is running down.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)

Kieran O'Donnell: It is a very simple question. The rate of growth in assisted voluntary sales, which in effect are repossessions, suggests people are not being provided with alternatives prior to reaching that point. Why had the figure increased by so much in two months?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)

Kieran O'Donnell: That is a significant jump.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)

Kieran O'Donnell: Normally the correlation with the other institutions is that the growth in the rate of repossessions is much less than the rate of growth in long-term solutions.