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Seanad: Seanad Bill 2013: Committee Stage (12 Nov 2014)

Aideen Hayden: To respond to Senator Mooney's comments on the diaspora, the Joint Committee on European Affairs will publish its report on wider engagement with the diaspora at 11 a.m. tomorrow. One of the issues the committee considered is that Ireland has a very large diaspora. While we may wish to engage with members of the diaspora, serious issues arise in terms of how we could do so, particularly in...

Seanad: Seanad Bill 2013: Committee Stage (12 Nov 2014)

Aideen Hayden: It would be worthwhile to read the joint committee's report before considering further the issue of how we engage with the diaspora. The committee was asked to consider the issue in the context of wider engagement with communities from other parts of Europe.

Seanad: Seanad Bill 2013: Committee Stage (12 Nov 2014)

Aideen Hayden: I wish to raise a point of clarification. Senator Zappone proposed putting the question on a motion. To which motion is she referring?

Seanad: Seanad Bill 2013: Committee Stage (12 Nov 2014)

Aideen Hayden: Is she proposing to put the question or adjourn the debate?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Aideen Hayden: I apologise for arriving late. One of my colleagues was sick in the Seanad and I had to sit in on a fisheries debate. We are flexible in the Seanad. We are masters of everything or none, depending on one's view on fisheries policy. I will start where Senator Craughwell left off. It relates to the Governor's statements in relation to mortgages and the consultation process. There are two...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Aideen Hayden: I am sorry, but I do not know how much time I have.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Aideen Hayden: I have approximately four questions.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Aideen Hayden: An honest witness.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Aideen Hayden: That is in Permanent TSB's submission.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Aideen Hayden: The question was on whether Mr. Masding believed we were in or approaching a property bubble.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Aideen Hayden: My second question relates to a matter to which our committee will return, as we will engage in consultation with the Governor on these measures. Given the fact that they are predicated in part on a so-called property bubble that Permanent TSB does not accept exists, a position with which I agree, does Mr. Mitchell believe the proposal could damage a fragile recovery in the property sector?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Aideen Hayden: My next question relates to receiverships on Permanent TSB's buy-to-let mortgage loan book. The number of receivers is quite low at 454. However, the bank has more than 17,000 buy-to-let mortgages that are in arrears of more than 90 days. Given the number of those on which the bank is taking legal action, the level of receiverships will increase. The committee and the Private Residential...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Aideen Hayden: With a levy on the banking sector.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Aideen Hayden: The advice is more about levelling the playing field.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Aideen Hayden: What of the issue of receiverships?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Aideen Hayden: The bank would not be against supporting such a legislative change.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Ulster Bank (13 Nov 2014)

Aideen Hayden: I thank the delegation. I want to express my disappointment at how late we received the bank's information. I received the replies to our questions yesterday evening. For the purposes of comparison, we received information from Bank of Ireland, Permanent TSB and AIB. It is very disappointing to be given documentation so late in the day because we want to engage meaningfully with this...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Ulster Bank (13 Nov 2014)

Aideen Hayden: Having been engaged with the law for many years I know how distressing it is for people to have to engage in legal proceedings.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Ulster Bank (13 Nov 2014)

Aideen Hayden: I have dealt with Ulster Bank on behalf of clients and the individuals I have dealt with were very helpful. I represent people as a qualified solicitor but many people do not have access to that type of service. Ulster Bank is not independent. It is judge and jury over its own clients. Is it prepared to fund an independent process in which people can be advised by experts on how to engage?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Ulster Bank (13 Nov 2014)

Aideen Hayden: If a broader service were put in place involving all banks, would Ulster Bank be prepared to part-fund that?

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