Results 15,221-15,240 of 27,945 for speaker:Michael McGrath
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: I suggest PTSB consider the matter further for the sake of goodwill for the bank and retention of customers. To be frank with Mr. Masding, I would advise those of the bank's existing customers who are in a position to switch to do so. His job is to try to keep them, but PTSB's rates are not competitive for its existing customers and the bank is benefiting from the inertia of a certain...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: Is there complete flexibility in that a customer can move more than once if necessary if his or her LTV ratio continues to fall, or can he or she only move once to a lower managed variable rate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: Once only?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: It is relatively new, so the inability to move a number of times would not have affected a huge number of customers. The bigger issue is those who have not moved at all, but-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: What is PTSB's market share of new principal dwelling house mortgages?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: Has that remained very stable or-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: Does PTSB still have the current account offer of no fees on new current accounts or is that gone?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: I am not sure whether this has already been asked, but what is the overall cost to the bank of the tracker redress programme?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: What is the figure?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: Again, the witnesses can tell me if this was asked. Has the tracker issue of customers being put on ECB plus 3.25% been examined, has it been addressed as part of the tracker programme, and are there many customers in that category? A number of them who believe they should be on what we would all regard as a regular tracker rate, with a margin of 3.25% for some of them, have been in touch.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: Will Mr. Mitchell clarify in simple terms how it could be that there would be a margin of ECB plus 3.25%? How could the margin be of that order?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: Is Mr. Mitchell saying that was the margin applied to all tracker accounts at that time, even in the case of those who were actually on trackers and not just those coming off fixed rates? Were PTSB's tracker customers around that time paying ECB plus 3.25%?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: Is Mr. Mitchell saying that the bank's margin above the ECB rate varied over a number of years and went up to 3.25%?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: Were actual tracker customers being charged ECB plus 3.25%?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: Is Mr. Mitchell's core point that since that was the margin that applied when this affected cohort took out their mortgages, when they came off the fixed rate, he believes the correct thing to do was to apply that margin to them when they came off the fixed rate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: Has the Central Bank adjudicated on that?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: There are 45,000 people or so on a variable rate of 4.5% and some may have misplaced the correspondence from 2015 and 2016. If they contact the bank now, will it honour the voucher for the valuation and pay for a valuation to be done on the property so they can access a lower rate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: I am asking for a commitment.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: I welcome Mr. Verbraeken and his colleagues. I hope that I have pronounced his name correctly. It is KBC's first appearance before an Oireachtas committee and I thank it for its co-operation. I will begin with the tracker mortgage examination. Mr. Verbraeken's statement did not give any details and I think that was quite a conscious decision on his part. Of all the banks, I have...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: Am I correct in saying Mr. Verbraeken will not put any numbers on it? Is that the position?