Results 12,921-12,940 of 26,081 for speaker:Kieran O'Donnell

Seanad: Sale of Permanent TSB Loan Book: Statements (22 Feb 2018)

Kieran O'Donnell: Will the Chair indicate when there is one minute remaining. I welcome the Minister of State, Deputy Michael D'Arcy, to the House. I expect Permanent TSB to come before the finance committee next week.

Seanad: Sale of Permanent TSB Loan Book: Statements (22 Feb 2018)

Kieran O'Donnell: We have asked it to come in and I expect it to come in. Its representatives were in with us a little over two weeks ago and to be honest their answers were not up to par. We as a committee, a body representing the ordinary people, need to get answers. We need answers around a couple of areas. We need a proper functioning banking system. We need proper competition in the banking system....

Seanad: Sale of Permanent TSB Loan Book: Statements (22 Feb 2018)

Kieran O'Donnell: We welcome that.

Seanad: Sale of Permanent TSB Loan Book: Statements (22 Feb 2018)

Kieran O'Donnell: Can I make a point of order?

Seanad: Sale of Permanent TSB Loan Book: Statements (22 Feb 2018)

Kieran O'Donnell: In the limited time I had with the Central Bank I asked what was the form of regulation over the loan book administered by the agent. It was based on risk analysis and I asked if the bank went to the premises to carry out audits, to which the reply was that it did not. The level of regulation is more light touch than heavy prudential, as in the other institutions.

Seanad: Sale of Permanent TSB Loan Book: Statements (22 Feb 2018)

Kieran O'Donnell: At 2.30 p.m.-----

Seanad: Sale of Permanent TSB Loan Book: Statements (22 Feb 2018)

Kieran O'Donnell: At 2.30 p.m. next Tuesday.

Seanad: Order of Business (28 Feb 2018)

Kieran O'Donnell: I join my colleagues in wishing Senator Trevor Ó Clochartaigh all the best. He is going back to familiar pastures in TG4. His family will probably return to some element of normality. A career in politics is very hard on families. People have made reference to being a politician. Whether we admit it or not, we actually enjoy it. We enjoy the buzz of being involved in politics but...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: EU Finances Post-2020: European Commissioner for Budget and Human Resources (6 Mar 2018)

Kieran O'Donnell: I hope I am not asking questions that were asked already. Does the Commissioner see any upside to Brexit? Is there any way in which Brexit could be of benefit to Ireland and Europe? I do not believe there is any upside. What type of empirical work has the Commission completed in respect of the impact of a soft Brexit versus a hard Brexit for individual countries? That would inform the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: EU Finances Post-2020: European Commissioner for Budget and Human Resources (6 Mar 2018)

Kieran O'Donnell: The Commissioner will be very welcome back with good news.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Kieran O'Donnell: Is the ICF in a deficit of €870 million?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Kieran O'Donnell: Over how many years has that deficit been run up? What is the reason for that being so high?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Kieran O'Donnell: What is the levy on the insurance companies?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Kieran O'Donnell: Has that been in place since the PMPA days?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Kieran O'Donnell: In essence, there is no fund but a large overdraft.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Kieran O'Donnell: Even when it is taken over by the Central Bank, it is not in a position to get returns on funds. This is purely about pulling back on the deficit that is there.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Kieran O'Donnell: If one were to pull that back and clear the €870 million, what would be required for the fund to operate efficiently in terms of being in surplus and of a levy on the insurance industry? What is happening here, in essence, is that a model is being established to clear an overdraft. I am taking it a little further and trying to put it into a space as to when a fund like that becomes...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Kieran O'Donnell: This is individual insurance companies which do not have proper reserves or whatever. It is nothing to do with the actual consumer. We have seen it in more recent times with Quinn and Setanta. The Central Bank is taking this over. If it is levying an extra 2%, is that another 25 on top? Am I correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Kieran O'Donnell: In essence, it is a 4% levy in total. Am I correct? It is 2% for the insurance company and 2% for - they are both the same.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Kieran O'Donnell: If it gets above €200 million in four or five years, there will be no levy.