Results 13,601-13,620 of 20,192 for speaker:Brian Stanley

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed) (20 Apr 2023)

Brian Stanley: As far as we know, three quarters of the ATM network is no longer under the control of the retail banks. There are independent companies. The ATMs are being sold to ATM companies that are unregulated. Is that correct?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed) (20 Apr 2023)

Brian Stanley: It has become a serious issue in some other European countries in that the rates being charged for withdrawals at ATM machines are extortionate. The fear here is that three quarters of the companies are not regulated, as far as we could find out before today. Obviously, there is an issue in this regard. The companies need to be regulated because they can charge. People who have been...

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed) (20 Apr 2023)

Brian Stanley: I know it is a policy matter but I wish to ask about going cashless. A large section of the public is absolutely terrified of that. A lot of people are not terrified about it but do not want it because they feel that, if they are buying a cup of coffee, they do not really need the bank manager with them. They feel they can deal with the shop assistant and keep the transaction between the...

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed) (20 Apr 2023)

Brian Stanley: Are there moves at higher official level in the Central Bank to nudge things along in a cashless direction, or does Mr. Makhlouf feel it is good we still have cash?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed) (20 Apr 2023)

Brian Stanley: I do not expect Mr. Makhlouf to have detailed knowledge or figures on my next question. From his sense of trends from having been on the board of the European Central Bank, does he believe the countries that are hanging on to cash, or maybe going back a little towards it, are mainly eastern European?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed) (20 Apr 2023)

Brian Stanley: From Mr. Makhlouf's answer, particularly his reference to Germany and Sweden, it is not necessarily the poorer, emerging economies in eastern Europe that are reverting more to cash. Mr. Makhlouf is saying that some of the wealthier countries that have higher GDPs, like Germany, are doing it.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed) (20 Apr 2023)

Brian Stanley: In terms of Ireland-----

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed) (20 Apr 2023)

Brian Stanley: There would be a cultural aspect as well.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed) (20 Apr 2023)

Brian Stanley: Regarding Ireland, there was a move to cashless transactions during Covid-19. Many people had to do much of their buying online because many retail outlets and businesses were closed and were not customer-facing, to use that term. Since we have over the last year, thankfully, emerged from Covid-19, or perhaps not just yet but we are nearly there, hopefully, has there been a move back to...

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed) (20 Apr 2023)

Brian Stanley: This is as we emerge from Covid-19?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed) (20 Apr 2023)

Brian Stanley: I would not expect Mr. Molloy to have scientific figures for that. I thank Mr. Molloy. I call Deputy Verona Murphy.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed) (20 Apr 2023)

Brian Stanley: Before we conclude, I ask that we look for the figure of the number of mortgages sold to vulture funds between 2009 and 2020.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed) (20 Apr 2023)

Brian Stanley: We do not have it. I was hoping we would have it by the end of the meeting.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed) (20 Apr 2023)

Brian Stanley: -----next week or so.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed) (20 Apr 2023)

Brian Stanley: Okay.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed) (20 Apr 2023)

Brian Stanley: Between 2009 and 2020.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed) (20 Apr 2023)

Brian Stanley: It looks like 115,000 were sold to what are described as vulture funds. How many were trackers?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed) (20 Apr 2023)

Brian Stanley: They are the outstanding ones.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed) (20 Apr 2023)

Brian Stanley: I have dealt with many constituents over the last 12 years in cases in which mortgages and loan books were sold and the property was subsequently sold and disposed of by a vulture fund, a third party, for a fraction of what the actual loan value was initially, sometimes a quarter of the value. The reaction from the public is understandable. Had that person gotten it for half of the original...

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed) (20 Apr 2023)

Brian Stanley: It still left a huge shortcoming in the sale value, which we can only ascertain by what happened with those properties afterwards. Certainly, the ones I and others have seen were disposed of for a fraction of the actual value of the original loan or the value of the property initially at the point of purchase, perhaps during the 2000s. My point is that if the borrower, the householder, had...