Results 16,101-16,120 of 27,945 for speaker:Michael McGrath
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Michael McGrath: So in all cases for these 4,000 customers, there is one clause that entitles them to go onto a tracker mortgage-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Michael McGrath: -----at the prevailing rate following a period on a fixed rate or otherwise. There is another clause in their contract that defines the tracker interest loan as being the ECB plus a margin and Mr. Byrne is saying the margin is not specified in any of them.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Michael McGrath: How did the bank calculate the prevailing rate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Michael McGrath: Mr. Mulhall's view is that the prevailing rate refers to the prevailing rate at the time that they became entitled to go on to a tracker. They are not entitled to go onto a tracker at the prevailing rate today.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Michael McGrath: If the bank is so confident that it is right on this why is it paying them all €1,000?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Michael McGrath: I have a few additional questions on the tracker issue. Taking up Deputy Doherty's suggestion, will AIB provide apro forma mortgage contract in respect of the prevailing rate issue? It would be a typical redacted contract which deals with the clauses 3.2 and 3.6, and the letter of offer with customer details redacted. If there are other variations which represent significant cohorts within...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Michael McGrath: Give or take. The initial public offering, IPO, share price was €4.40. The share price is up by €1.22, approximately 28%, since the IPO. Is that correct?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Michael McGrath: There were reports in the media of the Minister slapping down what Mr. Byrne suggested here at the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach. Has Mr. Byrne had a discussion with the Minister for Finance about his views on the State possibly selling more shares in AIB, either around the time of that committee meeting or subsequently?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Michael McGrath: Has there been contact between the bank and Department on that issue?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Michael McGrath: I will ask Mr. Byrne about loan portfolio sales to the extent that he can answer in a closed period. What are AIB's plans for the sale of further loan portfolios in the period ahead?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Michael McGrath: What is the quantum of non-performing loan, NPL, reduction that AIB is required to achieve by the end of 2019?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Michael McGrath: Is the €3 billion the amount in excess of the target?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Michael McGrath: Is that the overall or excess?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Michael McGrath: To get it down to €3 billion?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Michael McGrath: What is it currently?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Michael McGrath: So AIB is required to reduce its non-performing loan exposure by between €4 billion and €5 billion in the next two years?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Michael McGrath: Realistically, how much of that can AIB achieve by restructuring and working with individual customers? How much of it needs to be achieved by portfolio sales?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Michael McGrath: What is the latest position on Project Redwood?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Michael McGrath: Even to the extent that that involves residential and non-residential-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Michael McGrath: Picking up on Senator O'Donnell's questions, there was an article in The Irish Timeson 10 January of this year. AIB sues more than twice as many borrowers as Bank of Ireland. It was based on an analysis of High Court cases and looked at summary judgment records. It stated "AIB has scaled back its use of the hawkish "summary judgment" debt recovery tactic, but remains, by far, the Irish...