Results 16,201-16,220 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Jobs, Enterprise and Innovation: IDA Ireland Jobs Data (1 Feb 2018)

Michael McGrath: 187. To ask the Minister for Jobs, Enterprise and Innovation the target number of jobs created in 2017 in the financial services sector by IDA Ireland; the number actually created; the target number to be created in 2018; and if she will make a statement on the matter. [5277/18]

Written Answers — Department of Housing, Planning, and Local Government: Mortgage Lending (1 Feb 2018)

Michael McGrath: 339. To ask the Minister for Housing, Planning, and Local Government the position regarding the application of the Central Bank's loan-to-income rules in the new Rebuilding Ireland home loan scheme for first-time buyers announced recently. [5237/18]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: European Union Matters: Commissioner Valdis Dombrovskis (1 Feb 2018)

Michael McGrath: The Commissioner and Vice-President of the European Commission and his team are very welcome. I would like to raise a few issues with him. I note his list of responsibilities includes proposing measures to make financial services work better for consumers and retail investors. A key consumer issue in Ireland regarding financial services is the very high mortgage interest rates charged to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: European Union Matters: Commissioner Valdis Dombrovskis (1 Feb 2018)

Michael McGrath: I thank the Commissioner. I suggest to him that it should be a priority because if we are to have a full Single Market for financial services and at a time when all of the larger banks are being regulated directly by the Single Supervisory Mechanism, which is European-wide, it should be the case that all consumers, certainly those within the eurozone, should be able to avail of products...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: European Union Matters: Commissioner Valdis Dombrovskis (1 Feb 2018)

Michael McGrath: I have two other questions. One relates to non-performing loans, which the Commissioner addressed in his opening statement. The rate in Ireland is falling but it is still high. The way we would like to see banks reduce their non-performing loans is by reaching agreements with borrowers and restructuring loans but what we find here in practice is that the main banks are reducing their level...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: European Union Matters: Commissioner Valdis Dombrovskis (1 Feb 2018)

Michael McGrath: Regarding Brexit, I want to acknowledge the support of the European Commission for the Irish position and the support of the other European institutions. We hope that continues right through to the end but is it the objective of the European Union to ultimately negotiate a free trade agreement with the United Kingdom? We are now moving into a new phase and there is talk of the transition...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Michael McGrath: I thank the Chair. I welcome Mr. Stanley and Ms Arnett. Can I ask where is Mr. Mallon, the chief executive officer?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Michael McGrath: However, Mr. Mallon is actually working? He is not on gardening leave?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Michael McGrath: My understanding, of the precedent referred to, was that outgoing chief executive officer was not at work at that time. I will have to check that. I put it to the witness that he should be here. He is still the chief executive officer. He is the person who is accountable. We might look into that precedent issue. Turning to the matters at hand, the tracker examinations, in the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Michael McGrath: They all have been contacted and there is engagement with all of them. Why does Mr. Stanley say "in the region of 15"? The wording is loose.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Michael McGrath: Has Ulster Bank identified any buy-to-lets thus far where people lost their homes?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Michael McGrath: There are 15 PDHs and one buy-to-let.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Michael McGrath: That is the current picture. I do not think any of us can begin to understand the trauma involved for people in losing their homes. How can that be put right? What is the bank's objective? What is it doing for those people, apart from giving them cheques for €50,000?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Michael McGrath: Does Ulster Bank still own some of those properties?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Michael McGrath: Were the other 15 court repossessions, voluntary sales or voluntary surrenders? How did they come back into the possession of Ulster Bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Michael McGrath: The word "voluntary" is a complete misnomer in this context. If somebody voluntarily sells his or her home or voluntarily surrenders his or her home, it is with a gun to his or her head. It is to avoid going to court.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Michael McGrath: Yes. Is the objective that these individuals and families will get another home?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Michael McGrath: Will the one property the bank has be given back?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Michael McGrath: On Ulster Bank's overall numbers, 3,500 customers have been identified as being impacted upon. Of those, 2,500 are still customers of the bank with active mortgage accounts. Redress and compensation have been paid to 1,200. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)

Michael McGrath: I imagine that is 1,200 of the 2,500. It is 1,200 of the bank's existing customers?