Results 1,521-1,540 of 49,836 for speaker:Stephen Donnelly
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Stephen Donnelly: As part of a personal insolvency arrangement, is the bank's policy that no personal insolvency arrangement will include a debt write-down?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Stephen Donnelly: I asked the specific question whether it is the bank's policy that debt write-downs will not be included in circumstances involving the insolvency arrangements.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Stephen Donnelly: I appreciate that but we are short on time. It is a yes or no question. Is it bank policy that there will be no debt write-downs as part of the insolvency arrangements?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Stephen Donnelly: The answer is: "Yes, it is bank policy."
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Stephen Donnelly: When the bank works with the borrower to determine the amount he or she can pay if a mortgage is unsustainable, does it have guidelines? AIB based its calculations on the ISI minimum requirements plus approximately 20%. What is Ulster Bank's approach to determining what a family should be left with?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Stephen Donnelly: Can Mr. Bell provide the committee with those guidelines?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)
Stephen Donnelly: Perhaps we could also be provided with worked examples.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Stephen Donnelly: I welcome Mr. Masding and his team. I will pick up the split mortgage issue. I recognise the 0% rate on the shelf, which is a reasonable and welcome move from the bank. We have seen similar action from other banks except Bank of Ireland, which is pretending it has a split mortgage product but it is charging the market rate on the full amount. That is an exercise in deep cynicism. My...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Stephen Donnelly: I do not mean to cut across the witnesses but in the interest of time, I think Mr. Masding has answered the question. That is deeply disappointing as such an issue gets to the heart of the problem with this entire approach. The banks are dealing with arrears - they will be penalised if they do not - and the arrears targets will come down at the cost of the Irish citizens and the economic...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Stephen Donnelly: Mr. Masding said he tries to do the right thing for the customer-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Stephen Donnelly: On the example he has just given, does he think that is the right thing for the customer? It is an easy statement to make but when it comes down to the detail, he is going to ask her to leave university.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Stephen Donnelly: In this case, the decision Mr. Masding is standing over is that one of the bank's borrowers should leave university. I do not think he or I would believe that is in the best interests of the country, if they are the types of decisions he is willing to stand over.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Stephen Donnelly: I have a final comment for Mr. Masding. I appreciate that he has a very difficult job, and we will keep him under pressure. He spoke about what his customers and other customers want-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Stephen Donnelly: It is a final statement.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Stephen Donnelly: A question would take longer. It is a final comment.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Stephen Donnelly: Okay, I will ask a question. The PCAR test made up to €2.7 billion of public money available for residential mortgages and Permanent TSB has taken an accounting provision of €2.5 billion, so those figures tie.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Stephen Donnelly: I am trying to ask the question.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Stephen Donnelly: Chairman, I could have asked the question in less time than I am taking to you.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Stephen Donnelly: Does Mr. Masding not think it would be a better thing for the economic recovery of the country to accept that more of that €2.5 billion, which Permanent TSB has provided for and which has been provided to the bank by the Irish people, should be used for write-downs than the approximately €11 million provided for so far?
- Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Base Erosion and Profit Sharing: Discussion with Trinity College (17 Sep 2013)
Stephen Donnelly: I thank Professor Barry for giving of his time today and for sharing his expertise. It has been very useful. I wish to pick up on the point of the effective tax rate. It puzzles me when we get a figure from Revenue of 11.9% or the figure Professor Barry produced of 11.1%. If we assume a corporation tax figure of say €4 billion is paid in Ireland, the difference between the 12.5%...