Results 5,701-5,720 of 27,945 for speaker:Michael McGrath

Ceisteanna - Questions - Priority Questions: Mortgage Debt (20 Feb 2014)

Michael McGrath: The reality is that if the worst comes to the worst and a person's mortgage is in difficulty and then sold to an unregulated entity - a third party - that entity can move against the mortgage holder virtually immediately. If we look at the standard contractual terms of any mortgage agreement, they are stacked heavily in favour of the lender - the Minister knows this as well as I do. It is...

Ceisteanna - Questions - Priority Questions: Mortgage Debt (20 Feb 2014)

Michael McGrath: That is the bottom line. The Minister has acknowledged there is a problem which can be solved by legislation or a simple direction order from the Minister to the special liquidator. This is a genuine issue. People are afraid of being exposed, vulnerable and isolated in the face of an unsympathetic fund that is out to make a quick buck. That is a genuine fear. Perhaps some people have...

Ceisteanna - Questions - Priority Questions: Mortgage Arrears Proposals (20 Feb 2014)

Michael McGrath: 4. To ask the Minister for Finance his views on whether financial institutions are showing sufficient innovation in the nature of the solutions they are putting in place for distressed borrowers to ensure that arrangements are genuinely sustainable; his views on whether there is a lack of consistency in approach across different lenders; and if he will make a statement on the matter. [8565/14]

Ceisteanna - Questions - Priority Questions: Mortgage Arrears Proposals (20 Feb 2014)

Michael McGrath: The purpose of this question is to ask if the Minister is satisfied with the approach taken by financial institutions to deal with indebtedness, in particular mortgages. It is not explicitly mentioned in the question but it does relate to mortgages. My overall point is that I am not looking for absolute uniformity in terms of the approach taken by the banks to deal with people's...

Ceisteanna - Questions - Priority Questions: Mortgage Arrears Proposals (20 Feb 2014)

Michael McGrath: What I am seeking to do is highlight the lack of consistency among the banks. I welcome the new split mortgage model AIB is rolling out, whereby if, over time, a borrower meets his or her obligations under the particular arrangement reached, more and more of the loan essentially can be written off. This is a progressive and innovative initiative and I congratulate AIB and the Irish Mortgage...

Ceisteanna - Questions - Priority Questions: Mortgage Arrears Proposals (20 Feb 2014)

Michael McGrath: I thank the Minister. I have written to the Governor of the Central Bank, Professor Patrick Honohan, to outline to him my views on these issues. The reality is that how one is treated depends on the bank with which one has one's mortgage. There are significant differences in approach among the banks. That is the reality people are facing. The banks are operating within a framework...

Other Questions: Legislative Programme (20 Feb 2014)

Michael McGrath: I do not regard voluntary compliance with the code as a solution because it is simply unenforceable, which is the fundamental weakness. Who will police voluntary compliance if an issue arises? The answer is that nobody will. We will have two standards of a code, one that is statute-based, enforced and policed by the Central Bank and another that is entirely voluntary. That is not a...

Leaders' Questions (20 Feb 2014)

Michael McGrath: You are selling them down the Swanee.

Leaders' Questions (20 Feb 2014)

Michael McGrath: It is unenforceable. That is the point.

Written Answers — Department of Finance: Credit Availability (20 Feb 2014)

Michael McGrath: 11. To ask the Minister for Finance the reason no specific lending targets are in place for the pillar banks for 2014; if he is satisfied the banks are meeting the credit needs of personal and business customers; and if he will make a statement on the matter. [8379/14]

Written Answers — Department of Finance: Credit Unions (20 Feb 2014)

Michael McGrath: 23. To ask the Minister for Finance the current position in relation to the assessment of the health of the credit union sector; the issues that have been identified; the timeline for action; if further financial resources will need to be available to the sector; and if he will make a statement on the matter. [8383/14]

Written Answers — Department of Finance: Banking Sector Issues (20 Feb 2014)

Michael McGrath: 31. To ask the Minister for Finance his views on whether the lack of competition in the banking sector is leading to increased fees and charge as well as greater use of cash in the domestic economy; and if he will make a statement on the matter. [8381/14]

Written Answers — Department of Finance: Bank Debt Restructuring (20 Feb 2014)

Michael McGrath: 40. To ask the Minister for Finance when the European Commission will deliver its response to the restructuring proposals for Permanent TSB; the progress that has been made to date in ensuring Permanent TSB plays a positive role in the Irish banking market; and if he will make a statement on the matter. [8380/14]

Written Answers — Department of Finance: Flood Risk Insurance Cover (20 Feb 2014)

Michael McGrath: 42. To ask the Minister for Finance in view of his comments the insurance industry must cope with flood insurance, his views on whether the industry is sufficiently prepared to cope with challenges associated with flooding and subsidence issues; and if he will make a statement on the matter. [8382/14]

Written Answers — Department of Finance: NAMA Portfolio (20 Feb 2014)

Michael McGrath: 59. To ask the Minister for Finance if he has asked the National Asset Management Agency, as part of the current review of the agency, to consider selling off large portions of its loan book through a small number of big ticket portfolio deals; and if he will make a statement on the matter. [8800/14]

Written Answers — Department of Finance: NAMA Loan Book (20 Feb 2014)

Michael McGrath: 60. To ask the Minister for Finance the current book value and the estimated market value of loan assets and property assets currently under the control of the National Asset Management Agency; if he will set out the proposed disposal schedule; and if he will make a statement on the matter. [8801/14]

Written Answers — Department of Finance: Central Bank of Ireland (20 Feb 2014)

Michael McGrath: 61. To ask the Minister for Finance if he has had any discussions with the Central Bank of Ireland regarding any possible salary increases this year for its employees; the current policy of the Central Bank of Ireland on salary increases; if any salary increases have already been sanctioned for Central Bank of Ireland staff; and if he will make a statement on the matter. [8802/14]

Written Answers — Department of Finance: Departmental Contracts Data (20 Feb 2014)

Michael McGrath: 63. To ask the Minister for Finance further to Parliamentary Questions Nos. 50 and 51 of 22 January 2014, if he will forward, as promised, the information requested without further delay. [8808/14]

Written Answers — Department of Finance: Property Taxation Collection (20 Feb 2014)

Michael McGrath: 76. To ask the Minister for Finance the amount of local property tax collected in respect of properties in the jurisdiction of Cork County Council in 2012 and 2013; and the amount expected to be collected in 2014. [8824/14]

Written Answers — Department of Finance: Property Taxation Collection (20 Feb 2014)

Michael McGrath: 77. To ask the Minister for Finance the amount of local property tax collected in respect of properties in the jurisdiction of Cork City Council in 2012 and 2013; and the amount expected to be collected in 2014. [8825/14]