Results 4,861-4,880 of 27,945 for speaker:Michael McGrath
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Michael McGrath: So Mr. Bell is stating that in excess of 80% would involve interest plus some capital. It would, therefore, be something less than the full repayment but more than would be obtained under an interest-only arrangement.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Michael McGrath: Will Mr. Bell provide an indication of the position with regard to the remaining cases in this category?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Michael McGrath: If we consider that quarter in isolation, it is evident that in the region of 80% and 85% of Ulster Bank's sustainable solutions under the Central Bank's targets programme were accounted for by the appointment of rent receivers or some form of legal action being undertaken.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Michael McGrath: I am sure Mr. Bell can see from where I am coming in respect of this matter. I am trying to drill down into the numbers in order to obtain a sense of what Ulster Bank has been doing, particularly under the formal regulatory targets programme. It seems that in the region of five out of every six of the offers under discussion relate to legal action which could, in many cases, result in...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Michael McGrath: In the context of the targets, under this measurement Ulster Bank has already achieved the end of September target. Earlier, Bank of Ireland gave a figure of 53% and indicated that it has achieved its end-of-year target in the context of resolution. There is a serious mismatch between what people understood to be sustainable solutions and the actual measures being rolled out by the banks....
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Michael McGrath: The term "economic concession" was used and it was indicated that the bank has approximately 1,000 cases in which reduced interest rates have been applied. Are such reductions temporary?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Michael McGrath: Where does that fall under the Central Bank's quarterly statistics?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Michael McGrath: The final area I wish to address is the future of the bank in the Republic of Ireland. It is extremely important that the bank is committed to continuing in business in this country to provide essential competition in the SME sector, in particular, but also for personal customers. In that regard, Mr. Brown said in his opening statement that the bank was committed to a future in this...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Michael McGrath: I welcome Mr. Masding and his colleagues from Permanent TSB. I acknowledge members have received the information they sought, which must be welcomed. I thank the witnesses in that regard. Regrettably, the first question I must ask of Mr. Masding is whether the bank has a viable future. Its arrears rate is quite high and it has quite a high mortgage tracker element to its book. Moreover,...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Michael McGrath: On the issue of the business model, will Mr. Masding give us the profile of Permanent TSB's mortgage book in terms of tracker, fixed rate, variable-rate mortgages, etc.? On the issue of the bank plus two, as I understand it, the asset management unit will deal with the arrears.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Michael McGrath: Mr. Masding might explain what the non-core business aspect will deal with. On Permanent TSB's welcome initiative with current accounts whereby consumers will essentially not incur fees if they transfer to the bank, what is the strategy? The bank is getting in customers through their current account business. Is it the hope Permanent TSB will develop a mortgage business from these...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Michael McGrath: Yes.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Michael McGrath: Mr. Masding might explain the offer.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Michael McGrath: From his or her salary.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Michael McGrath: What percentage of new mortgages extended is accounted for by Mr. Masding's bank?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Michael McGrath: What is the profile of the mortgage book in terms of tracker mortgages, etc.?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Michael McGrath: I am sorry-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Michael McGrath: I am sorry, but Mr. Masding is using my time. That is the problem.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Michael McGrath: My time is nearly up.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Michael McGrath: What about Permanent TSB's book, in terms of tracker mortgages and the split?