Results 5,441-5,460 of 13,254 for speaker:Seán Sherlock
- Committee on Public Petitions: Engagement with Financial Services Ombudsman (22 Mar 2017)
Seán Sherlock: I thank the delegates very much for giving of their time. The meeting has been very informative.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: Mr. Carville described credit unions as diverse and stated their mode of operation presents challenges in that there are 283 different boards and entities. He also referred to the need for flexibility and proportionality in policy and regulation to support the credit union framework. Does this involve having a process of tiered regulation and, if so, when will such a process be in place?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: I ask Mr. Carville to provide brief, concise answers because I have only a short time to question him.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: I would prefer the view of the Department of Finance. The credit union representative organisations before the joint committee on Tuesday last. Tiered regulation does not appear to feature in the model being pursued from a policy perspective, that is, by the Department, or by the Central Bank. According to one school of thought, a rural credit union cannot be assessed in the same way as an...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: When will it report?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: I am failing to grasp something here. We all offer platitudes on the importance of the credit union sector. How long has the CUAC report been in existence?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: Time is passing. We need a definitive answer as to when tiered regulation will take place. Mr. Carville says the implementation group is meeting. Can we have an expectation that it will be in the first, second, third or fourth quarter in 2017 or the first quarter in 2018? We need definitive timelines.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: The Department will have oversight of that process.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: This is what I do not understand. As parliamentarians, we are aware of the restructuring that has taken place because it has happened within our communities. However, there was a clear message on Tuesday that the regulation does not reflect the reality. The witness says that once the ReBo process is completed, the tiered regulation will follow, if I interpret her correctly.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: What does business model development mean from the Department's perspective? I ask the witness to give me definitive answers.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: What does that mean?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: What does that mean?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: What is the Department of Finance's position on that, given that there is a clear programme for Government commitment around social housing and there has been engagement with the Minister for Housing, Planning, Community and Local Government on including the credit union movement? Why has that not moved on?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: The credit union representatives told us on Tuesday that they have been going around in circles. I am sure the witnesses have read what they said.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: The witness sits on the implementation committee and I am trying to understand the position of the Department of Finance. What is its position regarding the potential of the credit union movement, which is sitting on a myriad of assets? Many of the credit unions have restructured already, so please do not tell us that there is a further process to be undertaken. The bulk of the larger...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: The witness is telling me that I have to ask these questions of the Central Bank.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: What is the current state of the €250 million restructuring fund and the €250 million resolution fund?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: On Tuesday, the league of credit unions raised the over-collection of levies. How does the witness respond to its assertion that there is an over-collection of levies?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: If any party refuses to implement any element of the commission report, will the Department report that refusal to this committee and to the Minister?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: I mean any party that is a party to that, including the Central Bank.