Results 1,121-1,140 of 4,928 for speaker:Peter Mathews
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)
Peter Mathews: On mortgage protection, if a premium fails to be paid by the borrower, is it an obligation for the bank or financial institution to pay it to keep the policy alive?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)
Peter Mathews: Normally a mortgage protection policy is assigned to the bank, or it is in the joint names of the borrower and the bank, so that if the borrower fails to pay the premium the policy will lapse. Therefore, the insurance company notifies the bank that the premium has not been paid and normally the bank should step in to do so. Is it legally obliged to step in to keep premiums going?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)
Peter Mathews: Yes - mortgage protection.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)
Peter Mathews: I am talking about mortgage protection life cover.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Peter Mathews: It was a blended requirement.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Peter Mathews: I would like to come in on this.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Peter Mathews: Looking at the overview of the bank, it has a balance sheet is €155 billion and also has life assurance assets and liabilities, but perhaps those could be parked to one side when looking at the banking element of the bank. With regard to liabilities, how much is included on that balance sheet of 30 June as advances from the ECB or from the Central Bank of Ireland under emergency...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Peter Mathews: I am referring to the "other information" extracts from the balance sheet of the bank, page 104 - the lead sheet from that. With regard to assets, those available for sale, financial assets and NAMA senior bonds, the indicative rate of interest return on these is 3.1%. How does this arise when, currently, three-month LIBOR - London Inter-Bank Offered Rate - is 0.6%, which is the coupon...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Peter Mathews: Again, page 9 of the balance sheet -----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Peter Mathews: Yes.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Peter Mathews: Therefore, the answer is that €25 billion comes from the euro system.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Peter Mathews: Monetary authorities probably mean the Central Bank of Ireland and the ECB.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Peter Mathews: At the capitalisation in July 2011, the amount of money that came in recapitalisation from the markets was a little over €1 billion - from Wilbur Ross, Fairfax, Kennedy Partners and so on and the State invested approximately €1.5 billion. The fact is the bank is still hugely overdependent on capitalisation. Its loan to deposit ratio is approximately 136% and its financial...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Peter Mathews: That is not near enough, because the bank's balance sheet is still highly vulnerable. The bank has €7 billion in provisions against a loan book of €80 billion - about 8.7%. Considering this is all in mortgages and property and construction related lending, that is probably very light provision.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Peter Mathews: Personally speaking, those ratios are not a straightforward and robust way of looking at things. We should look at the maturity of the assets and at how easily they may be collected on. As mentioned, many of them are 35-year assets. The likelihood is that the borrowers are not in a position, based on their current, prospective and sustainable earnings, to repay their loans, whether...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Peter Mathews: I know, but given the bank expanded its -----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Peter Mathews: The margins on those loans are probably very slim.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Peter Mathews: People are in a dire position. I would like to echo the sentiments expressed by Deputy Higgins. It is time to look long and hard into the worthiness or unworthiness of the behaviour of the institutions over the past number of years. There is time to do some rehabilitation as well as restructuring. It is not all about numbers; it is about people's lives, families and businesses. Private...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Peter Mathews: Is Mr. Boucher saying negative equity is the bank's view of the ability-----
- Pensions and Retirement Lump Sums: Motion [Private Members] (6 Nov 2012)
Peter Mathews: Be careful.