Results 661-680 of 4,787 for speaker:Aodhán Ó Ríordáin
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Aodhán Ó Ríordáin: The witnesses' bank, albeit not the gentlemen who are present in particular, has caused an incredible amount of pain to this country and to people living in this country, as have other banks. This era in our history will be spoken of for ten, 20, 30,100 or 200 years to come. I refer to the former site of the Irish Parliament at College Green, which is currently in the bank's hands. Given...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Aodhán Ó Ríordáin: In fairness, the Minister and others have suggested in the past that considering its historical significance, it would be a symbolic gesture for that to be transferred into the hands of the State. Mr. Boucher's gratitude is nice, but pretty meaningless. In terms of a physical transfer of an iconic building, would that be a lasting gesture on the bank's behalf to the Irish people that would...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Aodhán Ó Ríordáin: I meant-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Aodhán Ó Ríordáin: I said Mr. Boucher's gratitude was meaningless.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Aodhán Ó Ríordáin: In terms of the tangible material of the College Green bank-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Aodhán Ó Ríordáin: So it is a "No".
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)
Aodhán Ó Ríordáin: In summary, I am not getting a significant amount of comfort from Mr. Boucher's strategic plan for those 89% in performing loans and some of those within that group of customers who may be in distress in the coming years. For those Priory Hall residents, although there are only eight, I am getting very little positivity. In terms of the gesture that might be given in terms of the Irish...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Aodhán Ó Ríordáin: I welcome the Ulster Bank representatives to the committee. Representatives from Bank of Ireland stated here earlier that the majority of distressed mortgages in their bank are tracker mortgages. Is that the position in Ulster Bank's case?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Aodhán Ó Ríordáin: Is Ulster Bank working proactively or has it a policy to get more of its customer base off tracker mortgages? Are they dragging the bank down?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Aodhán Ó Ríordáin: If tracker mortgages are, in Mr. Brown's words, a drag on the industry, does that mean there is extra pain being front-loaded on those on different types of mortgage?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Aodhán Ó Ríordáin: I got two very different answers from AIB and Bank of Ireland when I asked about the potential for an increase in the variable interest rate in the next year. The AIB representative stated he could not really foresee it and the Bank of Ireland representative stated he would not rule it out. What is Mr. Brown's view?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Aodhán Ó Ríordáin: Will the bank be engaging with those on tracker mortgages and can they expect contact from the bank with a range of products that the bank thinks may be more favourable to them?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Aodhán Ó Ríordáin: On strategic defaulters, it is a little like when people talk about social welfare where the word "fraud" is always included. Sometimes I wonder whether this is part of the policy in the banking system where the banks talk about defaulters, the word "strategic" gets in there and, before one knows it, that seems to be all we talk about. I am not necessarily suggesting that the Ulster Bank...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Aodhán Ó Ríordáin: In Mr. Brown's experience, are these mainly buy-to-let properties or are they owner-occupiers?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Aodhán Ó Ríordáin: Why would somebody want to strategically default on a property that is their only property that they are living in?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Aodhán Ó Ríordáin: Surely someone who is a strategic defaulter, in Mr. Brown's terms, of an owner-occupied home, is not somebody who is being devious. It is somebody who needs help.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Aodhán Ó Ríordáin: Would they be frightened? Is that the reason?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Aodhán Ó Ríordáin: If strategic defaulting is a problem as identified by Mr. Brown and if somebody is frightened to deal with a bank and is an owner-occupier, surely the bank would have imaginative ways of dealing with that situation.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Aodhán Ó Ríordáin: The reason I am saying this is because when people start throwing out terminology such as "strategic defaulters", what forms in somebody's mind is an image of somebody who has a broad portfolio, is merely playing the system, is trying to out-fox the bank and is not playing ball whereas what we possibly have is somebody who is terrified of hearing the telephone ring.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Aodhán Ó Ríordáin: Okay. I have two quick questions. The first is on the link between mortgage arrears and unemployment. Would Mr. Brown accept that many mortgages should not have been given out?