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Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Michael McGrath: Okay, but there is a potential exposure of €60 million in relation to bonds offered by developers.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Michael McGrath: To be drawn down-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Michael McGrath: If an estate has been completed satisfactorily-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Michael McGrath: Experience would tell us that where there is an unfinished estate and there is a bond in place, the bond is insufficient to cover the value of the outstanding works.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Michael McGrath: If we could be given an update-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Michael McGrath: Yes. I ask the Chairman to ensure we get up-to-date information on that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Michael McGrath: I assume KPMG would have been acting as a receiver appointed by IBRC in respect of some IBRC assets under IBRC debtors prior to the liquidation, or prior to the appointment of the special liquidators. How has that worked out since the appointment of the special liquidators? Where stands the interaction between their role as receivers for certain assets and their role as special liquidators...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Michael McGrath: The credit committee of-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Michael McGrath: How many such cases were there? I refer to cases in which the liquidators had active receiverships under KPMG when they were appointed.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Michael McGrath: Okay.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Michael McGrath: I appreciate that.

Written Answers — Department of Finance: NAMA Operations (27 Feb 2014)

Michael McGrath: 68. To ask the Minister for Finance when the National Asset Management Agency review will be completed; if he has issued any policy instructions to NAMA prior to the conclusion of the review; and if he will make a statement on the matter. [10230/14]

Written Answers — Department of Finance: State Bodies Mergers (27 Feb 2014)

Michael McGrath: 69. To ask the Minister for Finance when he expects the merger of the Financial Services Ombudsman and the Pensions Ombudsman to take place; and if he will make a statement on the matter. [10231/14]

Written Answers — Department of Finance: Financial Services Ombudsman Issues (27 Feb 2014)

Michael McGrath: 70. To ask the Minister for Finance his plans to amend the rule which prevents consumers making a complaint to the Financial Services Ombudsman if more than six years has passed from the date of the purchase; and if he will make a statement on the matter. [10232/14]

Written Answers — Department of Finance: Tax Reliefs Availability (27 Feb 2014)

Michael McGrath: 71. To ask the Minister for Finance the number of customers for whom tax relief on their private medical insurance is capped; the percentage this is of all customers claiming tax relief on private medical insurance; and if he will make a statement on the matter. [10233/14]

Written Answers — Department of Finance: Cycle to Work Scheme Administration (27 Feb 2014)

Michael McGrath: 72. To ask the Minister for Finance if he will amend the terms of the cycle to work scheme to allow persons who availed of tax relief under the scheme to purchase a second bike within the permitted five year period if the original bike they purchased was stolen and they can verify this fact; and if he will make a statement on the matter. [10234/14]

Written Answers — Department of Finance: Tobacco Smuggling (27 Feb 2014)

Michael McGrath: 73. To ask the Minister for Finance the current number of Revenue Commissioners' staff involved in combatting tobacco smuggling; the change in the number of staff working in the area since 2011; the reasons he believes that the number of seizures of tobacco have fallen sharply in recent years; and if he will make a statement on the matter. [10235/14]

Written Answers — Department of Finance: Banking Sector Remuneration (27 Feb 2014)

Michael McGrath: 74. To ask the Minister for Finance the total payroll savings that will be achieved by Bank of Ireland in 2014 and 2015 as part of the implementation of the Mercer report; the way this is broken down between pay and pensions; the number of persons who will experience a reduction in their remuneration; the total savings that will come from reductions in executive remuneration; and if he will...

Written Answers — Department of Finance: Banking Sector Remuneration (27 Feb 2014)

Michael McGrath: 75. To ask the Minister for Finance the total payroll savings that will be achieved by AIB in 2014 and 2015 as part of the implementation of the Mercer report; the way this is broken down between pay and pensions; the number of persons who will experience a reduction in their remuneration; the total savings that will come from reductions in executive remuneration; and if he will make a...

Written Answers — Department of Finance: Banking Sector Remuneration (27 Feb 2014)

Michael McGrath: 76. To ask the Minister for Finance the total payroll savings that will be achieved by Permanent TSB in 2014 and 2015 as part of the implementation of the Mercer report; the way this is broken down between pay and pensions; the number of persons who will experience a reduction in their remuneration; the total savings that will come from reductions in executive remuneration; and if he will...

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