Results 14,101-14,120 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (15 Jun 2010)

Brian Lenihan Jnr: In accordance with Paragraph 45 of the Credit Institutions (Financial Support) Scheme 2008, the biannual reports on Corporate Social Responsibility are published on each institution's website. Copies of the reports are also available on the IBF website. In relation to progress on the specific issues mentioned, in 2009 the Social Finance Foundation reached agreement with twelve banks and...

Written Answers — Corporate Governance: Corporate Governance (15 Jun 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 194 and 195 together. As regards the bodies under the aegis of my Department, the following is the position in relation to compliance with the Code of Practice for the Governance of State Bodies. National Treasury Management Agency The National Treasury Management Agency's legal structure does not follow the general semi-state model in all respects. The...

Written Answers — Corporate Governance: Corporate Governance (15 Jun 2010)

Brian Lenihan Jnr: In accordance with the Central Bank Act 1942 (as amended), the Treaty of Rome and the Statute of the European System of Central Banks, the Irish Financial Services Regulatory Authority as a constituent part of the Central Bank and Financial Services Authority of Ireland is an independent body and not subject to direction by the Minister for Finance in this regard. The Central Bank Reform...

Written Answers — Economic Policy: Economic Policy (15 Jun 2010)

Brian Lenihan Jnr: The European Council has taken a number of steps in recent weeks and months to safeguard the financial stability of the euro area. However, there is a broad understanding that economic governance within the euro area needs to be improved. The Commission has contributed a Communication (2010) 250 on reinforcing economic policy coordination to which I assume the Deputy refers. The President...

Written Answers — Tax Code: Tax Code (15 Jun 2010)

Brian Lenihan Jnr: I have no plans to abolish the air travel tax. The air travel tax was one of a number of Budgetary measures introduced recently that was necessary in the context of an overall response to the fiscal challenges we face. I have stated before that the impact of the tax on passenger numbers is being overstated.

Banking Reports: Motion (16 Jun 2010)

Brian Lenihan Jnr: Professor Honohan has outlined the whole thing in his report.

Banking Reports: Motion (16 Jun 2010)

Brian Lenihan Jnr: I did.

Banking Reports: Motion (16 Jun 2010)

Brian Lenihan Jnr: The Deputy's party is learning fast.

Banking Reports: Motion (16 Jun 2010)

Brian Lenihan Jnr: I move amendment No. 1: To delete all words after "Dáil Éireann" and substitute the following: — welcoming the preliminary reports 'The Irish Banking Crisis - Regulatory and Financial Stability Policy 2003 – 2008' by the Governor of the Central Bank, and 'A Preliminary Report on The Sources of Ireland's Banking Crisis' by Messrs Klaus Regling and Max Watson, which were laid before both...

Banking Reports: Motion (16 Jun 2010)

Brian Lenihan Jnr: Fine Gael tabled a private Member's motion on the draft terms of reference of the commission of inquiry before its members had an opportunity to hear from the authors of the two reports and before the committee dealing with the matter had an opportunity to consider the terms of reference. The Government made it clear in its decision on these reports that it welcomes the views of the Joint...

Banking Reports: Motion (16 Jun 2010)

Brian Lenihan Jnr: There is no question of a political attempt to exclude matters from the terms of reference or to make them less comprehensive than they should be. The terms of reference mirror the concerns of the reports and have been carefully refined by the Attorney General and the Government. This motion was tabled before Fine Gael listened to the authors of the reports, who have clarified a great deal...

Banking Reports: Motion (16 Jun 2010)

Brian Lenihan Jnr: Let us not hear any more about transformational change from Deputy Bruton and let us hear no more about political cultural change. Political cultural change is not happening in the main Opposition party in respect of the handling of this issue. Last Friday, at the meeting attended by Herr Regling and Mr. Watson, Deputy Bruton pushed very hard to have these experts join a witch-hunt against...

Banking Reports: Motion (16 Jun 2010)

Brian Lenihan Jnr: The authors did not say this should have taken place in the Government; they refer to the supervisory structures. They say bank supervision in Ireland was weak and the response of supervisors to the build-up of risks was not sufficiently hands-on or pre-emptive and was in some cases too mild to make a major impact on the risks.. There was a failure of checks and balances within the banks....

Banking Reports: Motion (16 Jun 2010)

Brian Lenihan Jnr: Nobody can be happy with what happened here. Opposition parties did not identify these problems. I do not often make that point because I accept Governments must take responsibility for what happened. As far as the Opposition is concerned, the proposals formulated in the last general election would have exacerbated the problem substantially. I refer especially to the proposals on stamp duty.

Banking Reports: Motion (16 Jun 2010)

Brian Lenihan Jnr: Let us not revisit those matters; let us consider the matters for further investigation. It is important to keep in mind that these reports are preliminary scoping reports that are intended to point the way to more detailed examination of specific issues by a statutory commission of investigation. It is important to state that the authors have all stated where the problems arose and that...

Banking Reports: Motion (16 Jun 2010)

Brian Lenihan Jnr: That is reflected in the report and what the authors of the report advised the committee. Professor Honohan seems to suggest there should be no further reports.

Banking Reports: Motion (16 Jun 2010)

Brian Lenihan Jnr: He came close to saying that but the Government does not agree with the Governor in this respect. The Government believes there should be a commission of inquiry. The Governor did not make the case for the kind of investigation Fine Gael is calling for, and neither did Herr Regling and Mr. Watson. There is a reservation that must be entered and Herr Regling and Mr. Watson are careful to...

Banking Reports: Motion (16 Jun 2010)

Brian Lenihan Jnr: It was to the supervisory system. We shall come to macro advice in a moment. We are now at matters that can be subject to legally verifiable examination. Macro-economic policy is not one of those areas.

Banking Reports: Motion (16 Jun 2010)

Brian Lenihan Jnr: It is not, according to any of the authors of any of these reports. It is a matter we can argue about in this House and we can set up a procedure to devise how we want to test it but it is not a matter that can be investigated in a commission of inquiry. That is very clear from these reports. What their authors suggest is that we should have terms of reference to look at the banking...

Banking Reports: Motion (16 Jun 2010)

Brian Lenihan Jnr: I doubt it is a point of order but I am in the Acting Chairman's hands.