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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with Ulster Bank (8 Dec 2021)

Mairéad Farrell: In November 2019, the deputy governor of the Central Bank stated at the national retail banking conference of the Banking & Payments Federation Ireland, BPFI, that "the Central Bank is still having to push banks and non-banks too hard to take a customer centric approach to resolving arrears". He made clear that the Central Bank does not have a preference for loan sales but for...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with Ulster Bank (8 Dec 2021)

Mairéad Farrell: That was my next question. Ulster Bank has to provide evidence to the Central Bank that it has examined all the various options. Ms Howard stated Ulster Bank comes to some kind of agreement with four out of five of those who engage with it. On those agreements, what are the preferred arrangements to keep people in their homes? Does Ms Howard have a breakdown?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with Ulster Bank (8 Dec 2021)

Mairéad Farrell: On capital requirements, over the past couple of months, there has been a good bit of commentary on the return on equity and capital requirements that characterise the banking sector here. We have seen from research that risk-weighted assets attributed to Irish banks were significantly affected by the legacy of the crash, with a subsequent impact on the return on equity and even the mortgage...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with Ulster Bank (8 Dec 2021)

Mairéad Farrell: My final question is on the status of the 600 jobs in the North. Will they be directly affected by the withdrawal of Ulster Bank here in the South? Have new rules been identified for the staff? Can the delegates give a commitment to the staff that their jobs are secure?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with Ulster Bank (8 Dec 2021)

Mairéad Farrell: While it would be good to keep us updated, obviously, the most important thing is to keep the workers updated. That concludes my questions.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Ombudsman and Information Commissioner: Commissioner Designate (9 Dec 2021)

Mairéad Farrell: Mr. Deering makes an interesting point because people who regularly make FOI requests would say that there are differences in how different public bodies respond to such requests. I will not name these but this is something that is very much seen as a given. One other thing that Mr. Deering said there is that there is the culture of champions championing the importance of FOIs, which is...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Ombudsman and Information Commissioner: Commissioner Designate (9 Dec 2021)

Mairéad Farrell: I thank Mr. Deering. My concern is that we are adding to the hoops that people who are making protected disclosures have to jump through. They cannot go directly to a Minister. I appreciate that Mr. Deering wants us to have a think about it but I wanted to add my concerns so that they can be included in the thought process.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Insurance (Miscellaneous Provisions) Bill 2021: Discussion (16 Dec 2021)

Mairéad Farrell: Deputy Doherty also.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Insurance (Miscellaneous Provisions) Bill 2021: Discussion (16 Dec 2021)

Mairéad Farrell: I want to wish everyone a happy Christmas and new year. We have seen a lot of each other over the recent weeks and months. I hope everyone has a good one. I want to raise the issue of price walking. On 21 October on "The Claire Byrne Show" on RTÉ Radio 1, the Minister of State repeatedly said that this legislation would ban price walking. However, that was not the case. On 16...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Insurance (Miscellaneous Provisions) Bill 2021: Discussion (16 Dec 2021)

Mairéad Farrell: I did quote exactly what the Minister of State said on the radio. I have the direct quote from "Morning Ireland", where to me, it is clear to me that he was saying that this legislation would deal with it. It is good that he has clarified that it is not and that the Central Bank will do so and that a report will be done. This is something that my colleague, Deputy Doherty, has raised...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Insurance (Miscellaneous Provisions) Bill 2021: Discussion (16 Dec 2021)

Mairéad Farrell: I thank Mr. Boland for his presentation; it was very interesting. Will he give his assessment of Government actions on insurance reform since taking office last year, the progress that has been made, and whether it has been sufficient to drive reform and deliver affordable insurance for policyholders?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Insurance (Miscellaneous Provisions) Bill 2021: Discussion (16 Dec 2021)

Mairéad Farrell: That was really powerful. I thank Ms Sheridan for that. When people work in different sectors, it is very good to hear the real-life experience of the stress and concern they naturally feel. It is a very powerful tool to be able to give those examples. I thank her for sharing that. It was powerful. I have a question about the personal injury guidelines. We were discussing it with the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Insurance (Miscellaneous Provisions) Bill 2021: Discussion (16 Dec 2021)

Mairéad Farrell: Is it okay for me to ask another question?

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