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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: It is important in terms of setting the scene.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: Before calling Deputy Pearse Doherty, I want to make a point to Professor Lane. The information you are giving to the committee members this morning, or the lack of it, is striking. I would have thought, with regard to the questions you have been asked by Senator O'Donnell and Deputy McGrath, who was particularly trying to set the scene, that you should have had those figures ready for the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: Sorry for interrupting. You can have all that but what I am hearing this morning is an unwillingness to stack up the numbers for us here, and an unwillingness to play hardball with the banks. It would seem to me that you either feel bullied by them or that you are fearful of them, but you are not engaging as I would expect you to engage with the banks in regard not to just matter, but to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: Or not doing.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: Some of the public think they should be in jail.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: Is that agreed, Deputy Doherty?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: I will suspend the meeting. For how long will I suspend it?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: We want those figures when we come back.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: I call Professor Lane

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: I wish to follow up on the point being made by Senator Horkan. Professor Lane speaks about engagement between the customer and the bank. I have come across cases where the customers are reluctant to get into the engagement process because they know what the final result might be. There are also many customers who attempt, at an early stage, to flag their difficulties to the bank. I have...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: Is the Central Bank going to meet the group? It gave a commitment to meet it in the context of Ulster Bank.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: I look forward to the day when after the redress and compensation is done, there is a line up of families and individuals with the banks saying they messed up and a photograph of them handing over a big fat presentation cheque. Then we will know they are taking it seriously and that the culture in the banks has changed. My view of the banks is they have not changed their culture. They are...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: That is laughable because an investor wants his investment to pay up and those on the boards want the same thing. I remind the Central Bank again that it wears the consumer protection hat and that is where the consumer will turn. I would hope that it has enough skills in its organisation and power in terms of legislation to protect the small to medium sized enterprises, SMEs, in this...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: I take it that the meetings will be arranged on a quarterly basis, as this is important.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: I will take up a point Deputy Michael McGrath made. I hope we are not all beginning to buy into the narrative most of the banks are spinning, namely, that there have not been enough repossessions to impress upon banks that are not already represented here that there is security for their funds and that we need more repossessions to impress them. The representatives of the Bank of Ireland...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: Does Professor Lane think the banks had conversations about the tracker issue?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: Except that they are all doing it.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: It smells a little bit.

Written Answers — Department of Social Protection: Carer's Allowance Applications (17 Jan 2017)

John McGuinness: 530. To ask the Minister for Social Protection if carer's allowance will be approved in the case of a person (details supplied). [41011/16]

Written Answers — Department of Social Protection: Family Income Supplement Appeals (17 Jan 2017)

John McGuinness: 531. To ask the Minister for Social Protection if a family income supplement or supplementary welfare will be paid to a person (details supplied). [41012/16]

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