Results 9,801-9,820 of 16,537 for speaker:Brian Lenihan Jnr
- Unemployment Levels. (13 May 2009)
Brian Lenihan Jnr: These are the sums the European Investment Bank has made available to us.
- Banking Sector Regulation. (13 May 2009)
Brian Lenihan Jnr: Data on business credit are available to me from a number of sources including the Central Bank and the Financial Regulator. Returns are also made by institutions covered under the guarantee scheme. From the available reports it is clear there has been some reduction in business credit. The most recent Central Bank monthly statistics show a reduction in total credit outstanding from...
- Banking Sector Regulation. (13 May 2009)
Brian Lenihan Jnr: I shall consider the matter when Fine Gael outlines its proposals in relation to bad loans because the availability of EU funding through the European Central Bank would be contingent on this. When there is a scoped proposal, I shall examine it. As regards the review, it is progressing well, but to ensure it was comprehensive extra steps were taken, including the inclusion of banks other...
- Banking Sector Regulation. (13 May 2009)
Brian Lenihan Jnr: The report is not ready because of the inclusion of all the banks in the Irish picture. It will be ready by the end of June.
- National Asset Management Agency. (13 May 2009)
Brian Lenihan Jnr: The objective of the National Asset Management Agency, NAMA, is to strengthen the banks' balance sheets which will considerably reduce uncertainty over bad debts and as a consequence ensure the flow of credit on a commercial basis to the real economy, to protect and grow employment, while protecting the interest of taxpayers. As I announced in early April, the potential book value of loans...
- National Asset Management Agency. (13 May 2009)
Brian Lenihan Jnr: I am glad the Deputy at least acknowledges that valuation is the crucial issue, that the valuation of the transferred assets lies at the heart of what has to be done. To ensure best value for money for the taxpayer, loans will be transferred from the banks to the agency at an appropriate written down value, depending on an assessment of the value of the loans and the risk being transferred...
- National Asset Management Agency. (13 May 2009)
Brian Lenihan Jnr: -----in establishing a basis with the interim managing director and elaborating on a proposal which can be translated into legislative form and considered by the House. Loans will be transferred from the banks to the agency at an appropriate written down value as determined by it. The assessment will have to be in line with European Commission guidance. The identity of the members of the...
- National Asset Management Agency. (13 May 2009)
Brian Lenihan Jnr: We must proceed with great care because the valuation of these assets must be done to protect and take account of the interests of the taxpayer.
- National Asset Management Agency. (13 May 2009)
Brian Lenihan Jnr: That is why I am not prepared to rush into giving a personal view on how the valuation should be conducted. I will take account of proper competent advice on that. That is my intention.
- National Asset Management Agency. (13 May 2009)
Brian Lenihan Jnr: Deputy Burton casually threw out the suggestion, as she does so often in banking matters, that this is a conspiracy to enrich bank shareholders. That is very wide of the mark. The purpose of this exercise is to clean the balance sheets of the banks so they can be restored as normal entities lending into the economy. A few moments ago Deputy Burton stated that covered institutions, namely,...
- National Asset Management Agency. (13 May 2009)
Brian Lenihan Jnr: We should be very careful.
- National Asset Management Agency. (13 May 2009)
Brian Lenihan Jnr: I am not trying to warn Deputy Burton off.
- National Asset Management Agency. (13 May 2009)
Brian Lenihan Jnr: I am more than pleased to have discussions. We had an extensive discussion at a meeting of the Joint Committee on Finance and the Public Service. The covered institutions are not wholly bankrupt. I am not warning Deputy Burton off. As the Minister charged with responsibility for banking, I am telling her that what she says is not in accordance with the facts.
- Jobs Initiatives. (13 May 2009)
Brian Lenihan Jnr: The first fundamental way to protect and expand Irish jobs is to get our competitiveness right and to put the public finances on a sound footing. This we are doing. The second key strategy is to invest in the smart economy, maintain high levels of capital spending and direct that into labour intensive areas. This we are also doing. For example, I announced the establishment of a...
- Jobs Initiatives. (13 May 2009)
Brian Lenihan Jnr: I examined Fine Gael's proposals in this regard. I provided access to my Department before the budget and I am glad Deputy Bruton used that facility. Many of the Fine Gael proposals replicate the Government document, Building Ireland's Smart Economy, which was published last December. Almost none of the programmes proposed by Deputy Bruton in his party's document is new. However, I...
- Jobs Initiatives. (13 May 2009)
Brian Lenihan Jnr: We will not have an economy without a viable banking sector. The steps the Government is taking on banking, whether through recapitalisation or rescue measures, are not discretionary.
- Jobs Initiatives. (13 May 2009)
Brian Lenihan Jnr: If we decide to let the banking system fail the economy will see-----
- Jobs Initiatives. (13 May 2009)
Brian Lenihan Jnr: -----a reduction three or four times that already envisaged for this year. I appeal to Opposition parties to stop making politics out of banking. There is no advantage to our economy in that. We must have viable banks.
- Jobs Initiatives. (13 May 2009)
Brian Lenihan Jnr: Yes, we will have to take the bad loans off the banks.
- Jobs Initiatives. (13 May 2009)
Brian Lenihan Jnr: We have had debate after debate since last September about banking.