Results 1,601-1,620 of 1,974 for speaker:Arthur Spring
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee
General Scheme of Sale of Loan Books to Unregulated Third Parties Bill 2014: Discussion (3 Dec 2014) Arthur Spring: Who will set that? This is what I am asking.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee
General Scheme of Sale of Loan Books to Unregulated Third Parties Bill 2014: Discussion (3 Dec 2014) Arthur Spring: The new owner can set the variable rate for AIB's-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee
General Scheme of Sale of Loan Books to Unregulated Third Parties Bill 2014: Discussion (3 Dec 2014) Arthur Spring: Even though AIB is just-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee
General Scheme of Sale of Loan Books to Unregulated Third Parties Bill 2014: Discussion (3 Dec 2014) Arthur Spring: It originated the loan and is the administrator of the loan at this time.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee
General Scheme of Sale of Loan Books to Unregulated Third Parties Bill 2014: Discussion (3 Dec 2014) Arthur Spring: Is that not worrying, given that the purchaser of a portfolio like this might not have a front-end office here? It might be using other facilities, such as those of AIB. Is it not in a position to do more profiteering than anybody else?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee
General Scheme of Sale of Loan Books to Unregulated Third Parties Bill 2014: Discussion (3 Dec 2014) Arthur Spring: Using this example, can AIB have a say in what interest rate is applied to a loan after it has sold it?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee
General Scheme of Sale of Loan Books to Unregulated Third Parties Bill 2014: Discussion (3 Dec 2014) Arthur Spring: Okay.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee
General Scheme of Sale of Loan Books to Unregulated Third Parties Bill 2014: Discussion (3 Dec 2014) Arthur Spring: I am trying to get clarification about something that worries me. If someone ends up in a predicament where a loan book is sold on and the agency does not want to involve itself in new loans, in terms of the variable rate it can apply to that chunk of properties, and if they buy something that has a good loan to value, LTV, ratio and a proven record, in other words, the good stuff in the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee
General Scheme of Sale of Loan Books to Unregulated Third Parties Bill 2014: Discussion (3 Dec 2014) Arthur Spring: I can understand that part but the vulture capitalists who could purchase this are not exposed to the day to day realities of needing to do new business here. I suggest that Mr. Reid should reconsider how the Department will safeguard people from extortionate variable rates, whether that be trying to get the financial institutions to underpin that the variable rate cannot go above and beyond...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee
General Scheme of Sale of Loan Books to Unregulated Third Parties Bill 2014: Discussion (3 Dec 2014) Arthur Spring: This question is to Mr. Hogan. Why would they appeal? If someone enters into a variable rate contract and the owner of the loan decides they want to increase the variable rate, what is the appeal one can make?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee
General Scheme of Sale of Loan Books to Unregulated Third Parties Bill 2014: Discussion (3 Dec 2014) Arthur Spring: In terms of the best chance one has, unless one can justify increasing the variable rate-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee
General Scheme of Sale of Loan Books to Unregulated Third Parties Bill 2014: Discussion (3 Dec 2014) Arthur Spring: -----it should not happen.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee
General Scheme of Sale of Loan Books to Unregulated Third Parties Bill 2014: Discussion (3 Dec 2014) Arthur Spring: That gives me some level of comfort but it does not corner off the idea that if somebody is overexposed with regard to currency exposures, etc. - the blended portfolio - and if they need to increase it to keep their ship afloat, they can justify it perhaps on those grounds. I am giving Mr. Reid the worst case scenario.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee
General Scheme of Sale of Loan Books to Unregulated Third Parties Bill 2014: Discussion (3 Dec 2014) Arthur Spring: I thank the witnesses.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee
General Scheme of Sale of Loan Books to Unregulated Third Parties Bill 2014: Discussion (3 Dec 2014) Arthur Spring: We addressed many of the relevant issues with the representatives from the Department earlier. However, Ms Blackwell highlighted the fact that here appears to be some uncertainty regarding how this is going to work in the context of financial institutions and the original borrowers and lenders. Will Ms Murphy or Mr. Crowley comment on the level of satisfaction among the financial...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee
General Scheme of Sale of Loan Books to Unregulated Third Parties Bill 2014: Discussion (3 Dec 2014) Arthur Spring: The original contract remains in place.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee
General Scheme of Sale of Loan Books to Unregulated Third Parties Bill 2014: Discussion (3 Dec 2014) Arthur Spring: I understand that but I have a couple of questions. Before I was elected to the House, I was involved in putting together loan portfolios for the purposes of securitising them. My experience is that one would choose loans attracting the very lowest risk and with the cleanest of files attaching because otherwise one could not sell them on the market. The very best loans have to be selected....
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee
General Scheme of Sale of Loan Books to Unregulated Third Parties Bill 2014: Discussion (3 Dec 2014) Arthur Spring: I am not suggesting that is the case now. However, potentially, a proposal legitimatising an increase in a portfolio bought through a SPV, special purpose vehicle, which has difficulties with some of its loans, could be put to the Central Bank. The SPV is isolated in its entity. A great many conditions exist between the originator of the loan and the equity from whoever bought it. The...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee
General Scheme of Sale of Loan Books to Unregulated Third Parties Bill 2014: Discussion (3 Dec 2014) Arthur Spring: Is the Banking and Payments Federation confident that the variable rates of those loans sold on will remain around the market average?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee
General Scheme of Sale of Loan Books to Unregulated Third Parties Bill 2014: Discussion (3 Dec 2014) Arthur Spring: That is not good enough. That should be answered with a “Yes, we are" or if not, "There is a problem with the legislation"