Results 6,561-6,580 of 27,945 for speaker:Michael McGrath

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)

Michael McGrath: By Mr. Sheridan's admission, the Central Bank had concerns about Setanta Insurance last September. Did the bank not have a duty of care to Irish policyholders, given the fact that those concerns were confirmed in November following its meeting with and inspection of Setanta Insurance? Policyholders were not alerted to those concerns. The Central Bank kicked the ball back to the Maltese...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)

Michael McGrath: The Central Bank had concerns in September. It met Setanta Insurance in November about those concerns and carried out an inspection, which apparently strengthened its concerns. However, the Central Bank did not fulfil its responsibility to Irish policyholders - through its regulatory role, for code of business purposes - by letting them know it had those concerns.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Collapse of Setanta Insurance: Central Bank and Department of Finance (9 Jul 2014)

Michael McGrath: It is the Central Bank of Ireland's job to protect the interests of Irish policyholders. That is one of its functions, whereas protection of Irish consumers is not a priority for the Maltese authorities. The Central Bank had concerns about this company which were subsequently strengthened, yet no action was taken to alert consumers. Surely some of the losses that have arisen could have...

Strategic Banking Corporation of Ireland Bill 2014: Second Stage (10 Jul 2014)

Michael McGrath: I will take up to 15 minutes and he will take the balance. I welcome the publication of the Strategic Banking Corporation of Ireland Bill. It is long overdue legislation, as a State enterprise bank was promised as far back as February 2011 in the programme for Government. However, it is somewhat ironic that, having waited three years for the Bill, we are being given little more than three...

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Michael McGrath: Oh God. Do not tell him that.

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Michael McGrath: The legislation and the Minister's speech make clear that the corporation is being established as a wholesale lender. I agree with Deputy Doherty that it would be preferable if the corporation had the capacity to lend directly to the end consumer, in this case primarily SMEs. One of the main selling points of the Bill as presented is that the corporation will be able to increase the...

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Michael McGrath: I thank the Minister for his reply, which was helpful. I wish to ask a number of follow-up questions. Will information relating to the funding to be made available through the SBCI be highlighted, front of house, in bank branches? Will SME customers be able to inquire about such loans in their local banks and will marketing information be available in the respect of SBCI loans and the...

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Michael McGrath: I support Deputy Boyd Barrett. What he said makes perfect sense. Ultimately, the Bill is about jobs. While this is implicit in the objectives set out in terms of the purpose of the SBCI, it should be explicitly stated. I do not accept that there is any legal impediment to specifying the employment objective. The only issue I would take with amendment 4 is that I would substitute the word...

Strategic Banking Corporation of Ireland Bill 2014: Committee Stage (Resumed) and Remaining Stages (10 Jul 2014)

Michael McGrath: It is a joke that we are required to put through a legislative measure of this importance in this manner. It is unacceptable and farcical and we really should not accept it. We have dealt with only six amendments and other important amendments will not be even debated. I do not wish to use all the minutes remaining but I have some practical questions for the Minister. Will there be...

Written Answers — Department of Finance: Government Deficit (10 Jul 2014)

Michael McGrath: 58. To ask the Minister for Finance the revised headline and underlying ex-banking measures of the general Government deficit as a percentage of GDP for each year from 2010 to 2013; and if he will make a statement on the matter. [30660/14]

Written Answers — Department of Finance: State Banking Sector (10 Jul 2014)

Michael McGrath: 59. To ask the Minister for Finance the current value of the State's investments in AIB, Bank of Ireland and Permanent TSB; and if he will make a statement on the matter. [30661/14]

Written Answers — Department of Health: Medical Card Eligibility (10 Jul 2014)

Michael McGrath: 166. To ask the Minister for Health if a person (details supplied) who receives regular warfarin injections at their GP's surgery at a cost of €20 each time may receive these for free under the medical card scheme. [30443/14]

Written Answers — Department of Finance: Banking Sector (15 Jul 2014)

Michael McGrath: 162. To ask the Minister for Finance if he will set out in tabular form the fees received by the Exchequer from each institution on an annual basis since 2008, including to date in 2014, in respect of the credit institutions financial support scheme and the eligible liabilities guarantee; and if he will make a statement on the matter. [30780/14]

Written Answers — Department of Finance: Eligible Liabilities Guarantee (15 Jul 2014)

Michael McGrath: 163. To ask the Minister for Finance the estimated funds currently covered by the eligible liabilities guarantee; the rate at which this will decline; and if he will make a statement on the matter. [30781/14]

Written Answers — Department of Finance: Banks Recapitalisation (15 Jul 2014)

Michael McGrath: 164. To ask the Minister for Finance the proceeds that the State has received to date from the disposal of bank assets acquired in each institution as part of the recapitalisation process; and if he will make a statement on the matter. [30782/14]

Written Answers — Department of Finance: Credit Unions Regulation (15 Jul 2014)

Michael McGrath: 168. To ask the Minister for Finance the number of credit unions that currently have lending restrictions imposed on them by the regulator; if he will provide a profile of the nature of the lending restrictions; the lowest maximum permitted amount for an individual credit union; and if he will make a statement on the matter. [30845/14]

Written Answers — Department of Finance: State Banking Sector (15 Jul 2014)

Michael McGrath: 171. To ask the Minister for Finance in respect of each of the State-supported banks, the number and overall value of judgments secured against debtors in 2013 and to date in 2014. [30937/14]

Written Answers — Department of Finance: Mortgage Data (15 Jul 2014)

Michael McGrath: 251. To ask the Minister for Finance the reason a mortgage in arrears which is sold by a regulated to an unregulated entity no longer appears in the quarterly statistics published by the Central Bank of Ireland; and if he will make a statement on the matter. [31308/14]

Written Answers — Department of Finance: Mortgage Data (15 Jul 2014)

Michael McGrath: 252. To ask the Minister for Finance if mortgage accounts with Irish Bank Resolution Corporation which have been sold to third parties and are in arrears will continue to appear in the quarterly Central Bank of Ireland arrears statistics; and if he will make a statement on the matter. [31309/14]

Written Answers — Department of Finance: Mortgage Arrears Code of Conduct (15 Jul 2014)

Michael McGrath: 253. To ask the Minister for Finance the number of complaints that have been made against banks for non-compliance with the code of conduct on mortgage arrears since it was instituted; the number that have been upheld; the sanctions that have been imposed on banks for cases of non-compliance; the maximum sanction that may be handed down; and if he will make a statement on the matter. [31310/14]