Results 15,161-15,180 of 27,945 for speaker:Michael McGrath
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Michael McGrath: Was there a report on Mr. Byrne's desk about how this happened?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Michael McGrath: On a related point, the customers who are in the cohort of this 3.67% prevailing rate issue strongly argue that they should have been put on what would be regarded as an actual tracker rate. I have looked at the terms of the mortgage contract, particularly term 3.2, setting out customers' entitlement to revert to a further fixed rate at the end of their period on the fixed rate, conversion...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Michael McGrath: People who started on a tracker mortgage, went to fixed and-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Michael McGrath: Surely, in this case, the prevailing rate is the prevailing margin. That is the only issue here. The bank cannot influence the ECB rate. The prevailing rate is a certain margin above the ECB rate. Surely the prevailing rate would be the ECB rate plus the prevailing margin that applies to tracker rates.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Michael McGrath: The clause in the contract says that at the end of the fixed rate period, the customer may choose between three options. One is conversion to a tracker interest rate mortgage loan at the bank's then prevailing rates appropriate to the mortgage loan.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Michael McGrath: I would read that as being appropriate to that option of a tracker rate. Mr. Byrne is saying that it would be appropriate to the rate that customers had been on. Is that how he is looking at it?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Michael McGrath: With a margin of 3.67%?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Michael McGrath: A margin?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Michael McGrath: What time period was this?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Michael McGrath: How many customers would be in that category of a 3.67% prevailing rate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Michael McGrath: Have they been communicated with?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Michael McGrath: Has the Central Bank signed off on Mr. Byrne's interpretation of the prevailing rate in this case?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Michael McGrath: I want to ask Mr. Byrne about the loss of data in Galway. The person involved should not be subjected to a witch hunt because accidents happen. I want to discuss the wider issue of officials moving from one branch to another while holding printed records of customer details. It is not something that many people understood happened. I would have thought data would be held in an encrypted...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Michael McGrath: It was not the norm but it was not exceptional either. Is that correct?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Michael McGrath: Do bank employees still carry paper records, including customer details, around with them?
- Committee on Budgetary Oversight: Business of Select Committee
Ex-ante Scrutiny of Budget 2018 (Resumed): Minister for Finance (27 Sep 2017) Michael McGrath: I welcome the Minister and his officials. I will keep the discussion interactive, if I may. My questions will be relatively succinct. In previous years, including last year, significant late changes totalling hundred of millions of euro have been made to the calculation of fiscal space. Does the Minister expect any change or significant change to net fiscal space and when will the final...
- Committee on Budgetary Oversight: Business of Select Committee
Ex-ante Scrutiny of Budget 2018 (Resumed): Minister for Finance (27 Sep 2017) Michael McGrath: There will be no change at all.
- Committee on Budgetary Oversight: Business of Select Committee
Ex-ante Scrutiny of Budget 2018 (Resumed): Minister for Finance (27 Sep 2017) Michael McGrath: Is there any scenario in which it would significantly change by up to €100 million or €200 million?
- Committee on Budgetary Oversight: Business of Select Committee
Ex-ante Scrutiny of Budget 2018 (Resumed): Minister for Finance (27 Sep 2017) Michael McGrath: In regard to the Coffey report that has been published and on which the Minister has indicated a consultation exercise will commence on budget day, Mr. Coffey has said that some of his recommendations should be the subject of a consultation period but he does not make that point for them all. Is the Minister considering including some measures in the budget to deal with certain...
- Committee on Budgetary Oversight: Business of Select Committee
Ex-ante Scrutiny of Budget 2018 (Resumed): Minister for Finance (27 Sep 2017) Michael McGrath: The Minister is not ruling out moving to implement some of the recommendations through the finance Bill.