Results 11,581-11,600 of 26,053 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Kieran O'Donnell: If there is a violation of the codes does the Central Bank have the power to impose penalties on the banks?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Kieran O'Donnell: Have fines been imposed?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Kieran O'Donnell: Are they in relation to tracker rates?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Kieran O'Donnell: So the Central Bank will be imposing penalties.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Kieran O'Donnell: On the logistics, has a separate section been set up within the Central Bank with a responsibility for dealing with this specific issue?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Kieran O'Donnell: Has a person been assigned with specific responsibility for this?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Kieran O'Donnell: Why is an external consultant needed?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Kieran O'Donnell: Who are the consultants?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Kieran O'Donnell: Are they not in place yet?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Kieran O'Donnell: Is seven people enough?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Kieran O'Donnell: Is that for 8,200 or nearly 12,000 people?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Kieran O'Donnell: Are these seven people out in the banks or is this desktop-based and based on submissions by the banks themselves?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Kieran O'Donnell: They have not been in there yet.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Kieran O'Donnell: Have the banks set up specific units to deal with this?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Kieran O'Donnell: On a question to Mr. Sibley, has the Central Bank set specific target deadlines for them to meet over the coming months?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Kieran O'Donnell: Are there specific dates for different institutions or is there a common deadline?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Kieran O'Donnell: Have any of the institutions that the Central Bank has written to at this point come back and said they have no particular accounts where this issue arises of people on trackers being moved to fixed rates? Are there any banks or financial institutions where this is not an issue?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Kieran O'Donnell: Therefore, would it not be fair to say that this practice, as Deputy McGrath said, is endemic throughout the banks?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Kieran O'Donnell: If the banks were looking in today, and I do not mean any disrespect to Professor Lane, I would not think they would be shivering in their boots. They appear to be dictating the time. As this stage, this has gone on relatively unchecked for the past five or six years. The Central Bank does not appear to have anyone in the banks at this time. It has required bringing in external advice. I...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Kieran O'Donnell: I ask that in the first quarter we would extend an invitation to Professor Lane and his colleagues to come back to give us an update on the position. We have no option. This is of such magnitude that we owe it to the people effectively to step in to make sure the process is moving at a pace. I take Professor Lane's point on the initial contracts that were set up with the banks. However,...