Results 7,041-7,060 of 26,042 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-ECOFIN Briefing: Minister for Finance (4 Nov 2014)
Kieran O'Donnell: The Minister explained that well at the previous meeting. I wish to deal specifically with the retroactive issue, because the Minister went through that other issue in great depth at our previous meeting on this topic. More specifically on the retroactive aspect, which is obviously-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-ECOFIN Briefing: Minister for Finance (4 Nov 2014)
Kieran O'Donnell: Does the Minister anticipate-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-ECOFIN Briefing: Minister for Finance (4 Nov 2014)
Kieran O'Donnell: Does the Minister consider it possible, and he will be looking at it in the margins, to give an indication of a timeframe at this point?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-ECOFIN Briefing: Minister for Finance (4 Nov 2014)
Kieran O'Donnell: Is that because these processes take time in terms of discussions?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-ECOFIN Briefing: Minister for Finance (4 Nov 2014)
Kieran O'Donnell: I am looking at it specifically in the context of what is up for discussion and the Minister is saying he is having discussions on the margins.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-ECOFIN Briefing: Minister for Finance (4 Nov 2014)
Kieran O'Donnell: Conversations on the margins then. I wish to move on to the issue of revision of VAT and gross national income, GNI, own resources balances from 1995 to 2013. Will this particular proposal have an impact on Ireland's contribution to the EU budget? What is the update on that?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-ECOFIN Briefing: Minister for Finance (4 Nov 2014)
Kieran O'Donnell: In layman's terms, the Minister believes the way it has been calculated is correct but in terms of the time period over which it is paid, the Minister has an open mind.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)
Kieran O'Donnell: I welcome Mr. Boucher and his colleagues. Given the importance of having a functioning banking system, I welcome Bank of Ireland's recovery and return to profit. To take up Deputy Michael McGrath's point on interest rates and charges, an examination of the figures indicates that the standard variable rate across the Bank of Ireland group is approximately 4.5%. Is that figure correct? I...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)
Kieran O'Donnell: The figure is in or around 4.5%.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)
Kieran O'Donnell: The point I am making is that the variable rates Bank of Ireland is charging first-time mortgage holders here and in the North are more or less comparable.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)
Kieran O'Donnell: The two year fixed rate for a mortgage with a loan-to-value ratio of greater than 75% is 4.35% in the Republic and 2.09% in the North. Why is the rate charged in the North less than half the rate charged here? Is it the result of the lack of competition in the market in the Republic? Bank of Ireland and Allied Irish Banks control a large part of the residential mortgage book in Ireland....
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)
Kieran O'Donnell: With due respect to Mr. Boucher, Bank of Ireland is, more or less, charging the same variable rate. This clearly looks to me-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)
Kieran O'Donnell: It appears to me that Bank of Ireland is pricing in the market.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)
Kieran O'Donnell: I accept that but it is after the set period.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)
Kieran O'Donnell: The question I am asking is very simple.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)
Kieran O'Donnell: But in the limited time. Therefore, does Mr. Boucher perceive that Bank of Ireland does not have enough competitors, whereby the bank is required to give a rate reduction to customers?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)
Kieran O'Donnell: Briefly, if one looks across the market here, the variable rates are more or less the same with all the banks. However, AIB has given a reduction of 25 basis points or 0.25%. This is a significant reduction for an individual. Why is Bank of Ireland not doing so?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)
Kieran O'Donnell: It is the same cost of money in the North as down here.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)
Kieran O'Donnell: Does Bank of Ireland now have any ECB funding?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)
Kieran O'Donnell: A total of 75% of the bank's funding is in the form of deposits.