Results 16,141-16,160 of 26,653 for speaker:John McGuinness
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: What would you have expected the Central Bank to do at that stage?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: That is not what I meant. What should the Central Bank have done at that time?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: Why has it come about this way, bearing in mind all the human elements of this story? Mr. Kissane outlined the case of the man who is alive today because the rope broke. He has talked about the families and the distress that has been caused and so on. Surely, when the Central Bank received a complaint first - bearing all of the foregoing in mind - it should have been more proactive about...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: If that is the case, what part of the engagement with the Central Bank does Mr. Kissane have a complaint about in respect of the appearance of the Governor before the committee recently?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: To be fair to who?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: No, you were saying that the letters to the bank-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: Yes.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: Now what we have is a Central Bank that did not do what it should have done when it first heard this complaint. We had a Central Bank – by way of reference to what Mr. Kissane just said – that expected the banks to do the right thing. These are the same banks that caused this problem in the first place. Are we to expect that they have gone from sinners to sainthood and they...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: Yet it is also the case that Mr. Kissane said they are now more interested in reinforcing their line of defence-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: -----than in addressing the issues. Who set down the guidelines for the tracker mortgage investigation?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: That is the Central Bank. The scope of those guidelines is only known to the banks and the Central Bank.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: Does Mr. Kissane know why?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: Okay. Let us start with that point, to try to tie in with Mr. Kissane's presentation. Surely the reason behind this is to protect the consumer and to give redress to those who have been very badly affected. The effects were outlined in Mr. Kissane's presentation, on which I cannot agree with him more. I have met these people in my clinics and many Members of the House have seen the same...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: They are being paid for by the banks? He who pays the piper etc.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: The next step, within those tracker mortgages that have been identified, concerns those families who are still paying the higher rate. Nobody has come back to deal with them on a one-to-one basis. Each bank is dealing with the overall view on this. The result will come at the end.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: Have each of the banks not been instructed to prioritise the cases where it is clear?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: They have?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: Therefore, what we are looking at here is the banks maintaining the line of kind of addressing this and not wishing it to go anywhere beyond a narrow focus with regard to the guidelines, which would attempt, as Mr. Kissane has said, to strengthen and reinforce the banks' lines of defence rather than anything else.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: When we started looking into this first, I believe there were 8,700 cases, then 15,000, now it is 20,000 cases. If we take Mr. Kissane's comments and translate them into a set of guidelines, it will go way beyond 20,000 cases. I agree fully with the case being made by Mr. Kissane. What would he suggest the committee should do to try to highlight the cases, to get to the numbers we need to...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: If the committee is to play a central role in getting a resolution for all the customers who have been badly affected it should, on a quarterly basis, invite each of the banks to report on the progress they have made, rather than just inviting the Central Bank.