Results 5,541-5,560 of 16,492 for speaker:Ciarán Lynch

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

Ciarán Lynch: The Senator will have more questions than the time allowed to reply.

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

Ciarán Lynch: He will run out of time because I will stop him.

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

Ciarán Lynch: The Deputy should be careful in what he says.

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

Ciarán Lynch: Yes, but I cannot have the Deputy talking about it.

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

Ciarán Lynch: If the Deputy wishes to include any other questions, I will take them now.

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

Ciarán Lynch: Does Ulster Bank have a timeline or target date for when those cases will be resolved?

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

Ciarán Lynch: I know that but Ulster Bank was given targets of 20% by 30 June 2013 with regard to tens of thousands of people. We are talking about possibly a couple of dozen people in Priory Hall in Ulster Bank's case. We must get this issue resolved. I am not asking Mr. Brown for a date but does he have a quarter of this year or next year by which the Priory Hall residents' situation would be resolved?

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

Ciarán Lynch: We will now move on to the Technical Group. Deputies Higgins and Donnelly are sharing their time and Deputy Donnelly will lead off.

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

Ciarán Lynch: I am on record in the earlier meeting and without show boating-----

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

Ciarán Lynch: The Governor is scheduled to come in around 25 September and all committee members are aware of that at this stage so there is no need to call for it.

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

Ciarán Lynch: Are we coming back to tablets?

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

Ciarán Lynch: The Deputy has one minute left.

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

Ciarán Lynch: I thank Deputy Boyd Barrett. Before we move on, I wish to clarify two issues with Mr. Brown. As the targets that have been set by the Central Bank increase, what are the penalties for the bank if they are not reached?

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

Ciarán Lynch: In the unforeseen event that Ulster Bank does not reach its target, how would the penalties apply?

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

Ciarán Lynch: Would the bank have to charge-----

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

Ciarán Lynch: To clarify matters, unlike the two previous banks that have appeared before us, Ulster Bank has not been capitalised by the State to any extent. The sum of money would not come through Government capitalisation but would have to be found from another source. I wish to deal with the issue of debt burdens and the write-down of debt. I am surprised that Ulster Bank has made a categorical...

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

Ciarán Lynch: The national industrial wage is approximately €37,000. Let us round it up to €40,000. A couple with one person earning just over the national industrial wage of €40,000 and with a partner working part time on €20,000 has €60,000 gross coming into the house every year. They would have to meet the 10% deposit themselves. In principle, what level of...

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

Ciarán Lynch: I mean generally. I am not looking for the specific sum but to the closest €10,000.

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

Ciarán Lynch: Someone on the national industrial wage who is cohabiting with somebody on half the industrial wage or a little more than this is in the ball-park for lending of €150,000 to €170,000.

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

Ciarán Lynch: By my calculation, somebody on the national industrial wage should be able to buy a three-up, three-down entry level house on a regular estate in a normalised market. That would indicate to me a return to normalisation. The difficulty is that six or seven years ago the people concerned were getting loans in excess of €250,000 and as much as €350,000. That is the problem....