Results 5,561-5,580 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 bank is not making sense, even in capitalist terms. A great number of people are heading into a personal insolvency arrangement, but from the target Mr. Lorcan O'Connor has indicated, he would be expecting the bank to be receiving 35 cent on the euro. I strongly suggest to the witnesses that Ulster Bank will have to review that, and I am not talking about blanket write-downs of 100%....

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

Ciarán Lynch: The Deputies will distort the answer to the question. Can they be quiet please?

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

Ciarán Lynch: Reduce the variable that they are on at present.

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

Ciarán Lynch: One of the things I am picking up from Ulster Bank, and I will refer to it in my summation, is that it is looking at some solutions that seem to be outside the prescribed list. One of the misconceptions about buying a house for €150,000 or buying a house for €300,000 is that the person does not pay back €150,000 or €300,000. They pay a staged payment every month...

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

Ciarán Lynch: I would like to hear more about that because I believe other banks need to be looking at that as well.

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

Ciarán Lynch: Okay. I call Deputy O'Donnell.

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

Ciarán Lynch: On one of the points Senator Barrett made, in some jurisdictions the concept of having mortgage protection insurance, for payment as opposed to where somebody dies, is mandatory. Canada is one such jurisdiction. As a result, it did not have a property bubble because the affordability and valuations of properties were triangulated whereby the insurance companies would not stand over insuring...

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

Ciarán Lynch: I have one other question. I was surprised this morning when Bank of Ireland stated it because I thought it was merely confined to principal mortgages or home owners. Is Ulster Bank applying split mortgages in the buy-to-let sector also?

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

Ciarán Lynch: Would Mr. Brown consider such a concept?

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

Ciarán Lynch: I call Deputy Peter Mathews.

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

Ciarán Lynch: I will give some grace. Ten minutes.

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

Ciarán Lynch: A question, please.

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 two more minutes. If he wants to put a question I will take it.

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

Ciarán Lynch: Thank you, Deputy.

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

Ciarán Lynch: Thank you Deputy. I call Deputy Creed.

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

Ciarán Lynch: You are out of time.

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

Ciarán Lynch: Please, Deputy.

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

Ciarán Lynch: I am not going to allow the Deputy to do that. He was given ten minutes to ask a question but he did not do so. I call Deputy Creed.

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

Ciarán Lynch: I am Chairman.

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

Ciarán Lynch: I have been fair. Let me be very clear. It is not the first time I have said this to Deputy Mathews. I have been liberal with him in the past. He is not a member of this committee but I have allowed him to speak prior to members, which is against the protocol.