Results 13,481-13,500 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Health: Disability Support Services Provision (24 Nov 2016)

Michael McGrath: 186. To ask the Minister for Health when a person (details supplied) in County Cork will receive an appointment at an early intervention unit [36658/16]

Written Answers — Department of Health: Health Services (24 Nov 2016)

Michael McGrath: 189. To ask the Minister for Health the details of the imputed rate of interest used by his Department and the HSE in respect of eligibility to different means tested schemes that fall under their remit, including medical cards; and if he will make a statement on the matter. [36695/16]

Written Answers — Department of Jobs, Enterprise and Innovation: Job Initiatives (24 Nov 2016)

Michael McGrath: 255. To ask the Minister for Jobs, Enterprise and Innovation the reason the financial reward under the succeed in Ireland programme, delivered by ConnectIreland, is being discontinued; if she will provide the key statistics on the performance of the programme to date including the number of jobs created and total amounts paid out as financial reward; and if she will make a statement on the...

Written Answers — Department of Children and Youth Affairs: Child Care Services Data (24 Nov 2016)

Michael McGrath: 267. To ask the Minister for Children and Youth Affairs the full terms and conditions that apply to the child care support schemes announced in budget 2017; and if she will make a statement on the matter. [36668/16]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Allied Irish Banks (24 Nov 2016)

Michael McGrath: I welcome Mr. Byrne and his colleagues and like Deputy Doherty I thank him for the information he provided in advance by way of the questionnaire. I will start on the issue of the bank's interest rates, the standard variable rates, SVRs, and acknowledge the progress AIB has made on that front and the fact that the bank does not differentiate between new and existing customers, unlike some...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Allied Irish Banks (24 Nov 2016)

Michael McGrath: However, the issues affecting the existing EBS customer cohort, that is, the cashback, the discount and so on, are not relevant to them, so they are paying a higher variable rate than the existing AIB customers.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Allied Irish Banks (24 Nov 2016)

Michael McGrath: I still have not got the justification for this. Does AIB intend to review this?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Allied Irish Banks (24 Nov 2016)

Michael McGrath: However, the bottom line is that the cashback sweetener comes at a price for the existing customer cohort. They do not get the extra reduction in their ongoing rate-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Allied Irish Banks (24 Nov 2016)

Michael McGrath: That must be acknowledged. If that is the case, it is unfair, but that is AIB's policy for now at least. Regarding the blended cost of funds, Mr. Byrne has provided us with a table in question 18. Will he translate it for me? Last year, he gave us a very clear answer that in the second half of 2014 the blended cost of funds was 1.57%. What is the corresponding figure as of June 2016?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Allied Irish Banks (24 Nov 2016)

Michael McGrath: It is what is described as average interest-earning liabilities-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Allied Irish Banks (24 Nov 2016)

Michael McGrath: -----in the table. The rate of 1.28% is a good bit higher than those of Permanent TSB and Bank of Ireland, which both come in at around 0.75%.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Allied Irish Banks (24 Nov 2016)

Michael McGrath: I note that AIB's fixed rates are higher than its variable rates. This is the bank's pricing strategy, presumably, which is quite different to Bank of Ireland's, which has kept its variable rate high and opted for lower fixed rates. AIB has reduced its variable rates. Its fixed rates are slightly higher than its variable rates. This is a very deliberate policy.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Allied Irish Banks (24 Nov 2016)

Michael McGrath: I make the general point that it is instructive that, though AIB has a higher cost of funds and blended cost of funds, it has managed to reduce its variable rate to effectively the lowest in the market, whereas other banks that have a much lower cost of funds stand over much higher variable rates. This proves the point that there is scope in the case of a number of other banks to reduce...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Allied Irish Banks (24 Nov 2016)

Michael McGrath: There is no prevailing tracker for somebody who has not had a tracker.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Allied Irish Banks (24 Nov 2016)

Michael McGrath: They do not exist.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Allied Irish Banks (24 Nov 2016)

Michael McGrath: How many customers are in this category? Does it consist of the 2,600 or so in this programme who had that clause in their mortgage contracts whereby at the end of the fixed rate they had a choice?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Allied Irish Banks (24 Nov 2016)

Michael McGrath: I accept that. The case to which I refer is quite specific. The customer could choose a tracker rate at the end of the fixed rate period. There are no new tracker products to choose from, so this is down to interpretation, but one can certainly argue that the customer is entitled to the current tracker rate.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Allied Irish Banks (24 Nov 2016)

Michael McGrath: There are no new tracker products but there is a prevailing tracker rate for a very large customer base. However, AIB is not offering that to the customers who now choose a tracker. It is down to interpretation.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Allied Irish Banks (24 Nov 2016)

Michael McGrath: AIB has arrived at a figure of 3.67%, and it seems to customers that it is determining the new tracker margin by reference to its general SVR.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Allied Irish Banks (24 Nov 2016)

Michael McGrath: We asked about the possible sale of loan portfolios on page 15 of the questionnaire. The bank's reply was that it is reviewing all options. Is the sale of loan books, particularly residential mortgages, under active consideration by the bank?