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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

Kieran O'Donnell: At what the rate can Sparkassen borrow from the EIB?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

Kieran O'Donnell: Can Mr. Bergmann give a rough indication or an average cost?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

Kieran O'Donnell: What interest margin would the bank in Ireland have to charge on top for it to be viable?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

Kieran O'Donnell: I will put it in context. Mr. Bergmann probably saw the earlier session of the committee. Under our Chairman this committee currently has a review going on in the Central Bank around tracker mortgages across virtually all the banking institutions in Ireland. Central Bank representatives will appear before this committee next week. The matter concerns the rates that customers were put onto...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

Kieran O'Donnell: I do not wish to put Mr. Bergmann on the spot, but as an objective observer does he believe that mortgages for home loans in Ireland at the moment are overpriced?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

Kieran O'Donnell: If the Sparkassen model was allowed by the Central Bank to set up an institution in an area with a critical mass of population, for example in the mid-west where I come from and where Deputy Kelly comes from----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

Kieran O'Donnell: -----with the capital being Limerick, we would have that critical mass of population. Obviously, if it was located in the capital of that mid-west region in Limerick-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

Kieran O'Donnell: Our region would fit that model. We have a thriving industrial base but we have a small to medium enterprise sector, SME, that cannot get access to finance and home mortgages. At what rate does Mr. Bergmann believe the institution could charge for home loans and SME loans and still be viable?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

Kieran O'Donnell: The Sparkassen ten-year fixed rate for home loans is approximately 1.1% at present. What is the rate for a typical SME loan for someone looking to get a working capital or stocking loan of €40,000 or looking to build a plant for €120,000? Typically, a working loan might be a one-year stocking loan or an overdraft facility over a year. Typically here, a building capital loan...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

Kieran O'Donnell: What about a current account stocking loan? It is 3% for a capital loan for a building. What would someone in the farming sector seeking an overdraft facility be charged?

Seanad: Order of Business (17 Oct 2017)

Kieran O'Donnell: I thank the Cathaoirleach for affording me time. With regard to Storm Ophelia, I would like to acknowledge the phenomenal work done by public servants on the ground in Limerick through Limerick City and County Council, the HSE, An Garda Síochána and every other public body involved. It was a day we could be proud of our public servants and the work they do. I take grave exception...

Seanad: Recognition of Irish Sign Language for the Deaf Community Bill 2016: Report and Final Stages (17 Oct 2017)

Kieran O'Donnell: I commend the Bill and acknowledge the people from the deaf community in the Gallery. I wish to speak to amendment No. 41. In essence, such a review mechanism every three to five years is provided for in most legislation. The first review would be three years after the legislation is enacted and then every five years thereafter. I have no doubt that there will be a kind of a formal...

Seanad: Recognition of Irish Sign Language for the Deaf Community Bill 2016: Report and Final Stages (17 Oct 2017)

Kieran O'Donnell: I wish to be associated with the remarks on this historic moment. I acknowledge what it means for the deaf community and wider society to acknowledge formally something that needed to be righted. From dealing with the deaf community in Limerick, I know how passionately they feel about this. I commend Senators Mark Daly and Lorraine Clifford-Lee and their team on this as well as the...

Seanad: Order of Business (18 Oct 2017)

Kieran O'Donnell: Name the person you want-----

Seanad: Order of Business (18 Oct 2017)

Kieran O'Donnell: I wish to raise the fallout of Hurricane Ophelia and insurance for people. The media have suggested that house and car premiums may go up for ordinary citizens. Insurance companies cannot use Hurricane Ophelia as a back door to raising insurance premiums. They factor heavy loadings for storms and other impacts into the prices they charge, so they cannot rip people off because of Ophelia....

Seanad: Flood Prevention Measures: Statements (18 Oct 2017)

Kieran O'Donnell: I welcome the Minister of State back to the House and commend him and his colleagues on how Operation Ophelia was managed. It was a very difficult situation but it was handled in the only way it could be handled. Information was disseminated and prudent decisions taken, certainly with regard to the closing of schools, which always poses a very difficult situation for parents like myself....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)

Kieran O'Donnell: Can we pause the meeting because there is a lot of interference with the sound system?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)

Kieran O'Donnell: Many of those 13,000 people are looking in here today. They want closure brought to the issue. Frankly, they will not believe there is an end in sight given what we have heard to date. As such, I want to go back over a couple of areas. Professor Lane spoke about the 2013 legislation. If a customer was on the wrong rate after 1 August 2013 - let us say it was September 2013 - is there an...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)

Kieran O'Donnell: That is even though the person is being charged at a specific moment in time.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)

Kieran O'Donnell: What about the consumer protection code that existed prior to 2013? Does the Central Bank have a legal entitlement to pursue the banks on that level?

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