Results 5,461-5,480 of 16,492 for speaker:Ciarán Lynch

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

Ciarán Lynch: That was three months ago.

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

Ciarán Lynch: I asked about the structures by type.

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

Ciarán Lynch: I will allow the members to try to drill down into these figures. I will raise a couple of issues before calling on Deputies Michael McGrath, O'Donnell and Doherty in sequence. Bank of Ireland is applying a different type of split mortgage to those offered by most of the other financial institutions. When a mortgage is split by other financial institutions, the interest and capital are...

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

Ciarán Lynch: The approach being taken by each of the banks can be considered on a case by case basis. One can argue that the IBRC and AIB, both of which are splitting it completely, are in a different situation because they are completely owned by the State, whereas the State has a stakeholding of less than 15% in Bank of Ireland. The situation of a customer on a tracker mortgage and a customer on a...

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

Ciarán Lynch: Yes.

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

Ciarán Lynch: Customers who are receiving spilt mortgages with Bank of Ireland are paying interest on the warehoused side of these mortgages, regardless of whether they are on tracker or variable rates.

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

Ciarán Lynch: As this resolution process evolves - the target figure will move to 35% in October, 50% at the end of the year and we hope to 100% next year - the modelling of solutions will evolve alongside it and the financial climate will change also. I put it to Mr. Boucher, on the basis that Bank of Ireland deals with customers on a case by case basis and given that the bank is taking a different...

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

Ciarán Lynch: The promise that the committee will be making is that Mr. Boucher will be coming back. As the figures start approaching 35% and 50%, representatives of Bank of Ireland and AIB will come before the committee. I ask Mr. Boucher to give consideration to this.

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

Ciarán Lynch: Are there split mortgages in the buy-to-let mortgage sector?

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

Ciarán Lynch: The bank has introduced split mortgages in the buy-to-let sector.

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

Ciarán Lynch: I wish to deal with two other issues in the six or seven minutes that are left before I call Deputy Michael McGrath. Recently, the Insolvency Service of Ireland contacted Bank of Ireland and the other financial institutions with regard to the consultative process for personal insolvency arrangements, etc. The issue of a payment break is being considered as part of that process. The incomes...

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

Ciarán Lynch: The Minister for Finance, Deputy Michael Noonan, wrote to all the banks and financial institutions on 9 July. The Minister made some comments in the letter about the possibility of a banking inquiry taking place. He said it was important to bear in mind that although the guarantee was provided in September 2008, records dating from the years preceding the granting of the guarantee and...

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

Ciarán Lynch: The Minister for Finance, Deputy Noonan, is not seeking records related to some guy who loses his bank card and calls Bank of Ireland to find out his PIN. He is seeking information that may be relevant to a banking inquiry, for example, issues related to the bank guarantee and records of communications between the banks regarding balance sheets. The response received from all the other...

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

Ciarán Lynch: I ask members to desist from talking while other members are asking questions. All the talk is being picked up on the microphones and is interfering with the responses to questions.

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

Ciarán Lynch: Will Mr. Boucher, please, summarise?

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

Ciarán Lynch: Deputy O'Donnell is next in Fine Gael's 15 minute slot. I believe he is sharing time with Deputy Simon Harris and Senator Paul Coghlan. I will be tight on the 15 minute time limit because we will have to finish on time. We are stretching it.

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

Ciarán Lynch: The Deputy will have to allow time for a reply.

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

Ciarán Lynch: The Deputy is over time.

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

Ciarán Lynch: No, the Deputy's time is exhausted.

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

Ciarán Lynch: The Deputy was allocated an amount of time. He chose to ask particular questions in that time.