Results 14,381-14,400 of 27,945 for speaker:Michael McGrath

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Michael McGrath: I welcome the Governor of the Central Bank, Professor Lane, and his colleagues. I thank him for his opening statement and acknowledge the update issued by the Central Bank on the examination of tracker mortgages. While it did not answer every question, it went a long way. On customers being denied their contractual rights, does Professor Lane believe the practice was systemic and...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Michael McGrath: Are all 15 lenders under examination co-operating?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Michael McGrath: Have they all completed phase one?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Michael McGrath: How many of the 15 lenders have identified customers affected by the tracker mortgage issue?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Michael McGrath: I put it to the Governor that this is a classic example of consumers being denied their contractual rights. The Central Bank is the consumer watchdog and consumers expect it to be the watchdog that not only will bark but, if necessary, bite. Is Professor Lane prepared to do this?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Michael McGrath: Professor Lane has said that so far the cost of compensation and redress is €78 million in respect of 2,600 customers. If we extrapolate from the figure pro rataand say there are in the region of 10,000 customers - I know that it is 10,000 accounts - we are looking at a bill of about €300 million. We know that in the cases of PTSB and Springboard Mortgages, the cost in respect...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Michael McGrath: In respect of the individual customers who are also our priority, Professor Lane has said that in more than 90% of cases where a problem has been identified they have been put on the correct mortgage interest rate.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Michael McGrath: The first priority, therefore, is to stop the problem and the harm. Presumably, it is a priority to get the remainder put on the correct rate as quickly as possible. On the question of the prevailing rate, I know Professor Lane will not be drawn into a debate around individual banks. However, this issue arises in the case of a number of banks. AIB is certainly one of them where it has...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Michael McGrath: It is not the banks' interpretation.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Michael McGrath: Okay. It is ongoing. In respect of individual cases, will Professor Lane clarify who is the ultimate arbitrator or ultimate decision-maker? Where can consumers ultimately take their case for a final decision? Is it the ombudsman? Will Professor Lane clarify that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Michael McGrath: Fine. If I may, Chairman, I have a final question on a separate topic. I wish to ask the Governor about house prices. The latest data from the myhome.iesurvey show that annual house price inflation is 9% nationally and over 10% in Dublin. For newly listed properties, the rate is 5.5% nationally in the first three months of this year and 6% in Dublin. Is the Central Bank concerned by what...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Michael McGrath: Does Professor Lane think the scheme is pushing up house prices?

Topical Issue Debate: Early Childhood Care and Education Funding (5 Apr 2017)

Michael McGrath: I thank the Minister for being here to take this Topical Issue matter. In February, Deputy Donnchadh Ó Laoghaire, Deputy Mick Barry, Deputy Micheál Martin, Deputy Billy Kelleher, I and others attended a presentation by the Cork Early Years Alliance. It was a very powerful presentation. On a visit to Cork, the Minister had an opportunity to meet with some members of the alliance....

Topical Issue Debate: Early Childhood Care and Education Funding (5 Apr 2017)

Michael McGrath: I thank the Minister for her reply. I think the Minister appreciates how vital these services are. The reality is that without them many of those children will be completely left behind by our society. They are in areas of disadvantage and many of the children have complex needs, including special needs and issues in terms of the home environment and so on. That is the reality. I think...

Written Answers — Department of Education and Skills: Labour Court Recommendations (5 Apr 2017)

Michael McGrath: 183. To ask the Minister for Education and Skills the steps he will take to ensure that a Labour Court recommendation (details supplied) hearing on 29 May 2013 relating to the pay of four workers is fully implemented; if he will provide an update on the issue; and if he will make a statement on the matter. [17055/17]

Written Answers — Department of Foreign Affairs and Trade: Diaspora Issues (5 Apr 2017)

Michael McGrath: 255. To ask the Minister for Foreign Affairs and Trade his plans to roll out the local diaspora engagement fund for 2017; the status on funds allocated to this scheme and a timeframe on when this fund will open for applications; and if he will make a statement on the matter. [17125/17]

Written Answers — Department of Health: Hospital Services (5 Apr 2017)

Michael McGrath: 269. To ask the Minister for Health the estimated cost of long-term treatment and management of adult intestinal failure across 21 hospitals here; if a cost benefit analysis has been carried out into the streamlining of services with a national centre in place and using a hub and spoke model within the community; and if he will make a statement on the matter. [17141/17]

Written Answers — Department of Health: Hospital Services (5 Apr 2017)

Michael McGrath: 270. To ask the Minister for Health if his Department has received a business case for assessment for the establishment of a dedicated national adult intestinal failure centre; and if he will make a statement on the matter. [17142/17]

Written Answers — Department of Finance: Brexit Issues (6 Apr 2017)

Michael McGrath: 121. To ask the Minister for Finance the status of his Department's efforts to attract financial services businesses here post-Brexit; the role of the Central Bank in that process; if he has considered adapting that role; and if he will make a statement on the matter. [17443/17]

Written Answers — Department of Finance: Consultancy Contracts Data (6 Apr 2017)

Michael McGrath: 122. To ask the Minister for Finance the total allocated budget per annum for hiring external consultancy firms for his Department's campaign for the relocation of the European Banking Authority; the costs to date; the name of the firms involved to date; and if he will make a statement on the matter. [17444/17]