Results 16,561-16,580 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Deposit Protection Scheme Issues (17 Jul 2014)

Michael Noonan: The Central Bank of Ireland is responsible for the operation of the Deposit Protection (Guarantee) Scheme (DGS), which covers licensed credit institutions operating in the State.  Each credit institution covered by the DGS is required to maintain a balance in the Deposit Protection Account (DPA) equivalent to 0.2% of their total deposits in order to fund the DGS. Over 400 institutions...

Written Answers — Department of Finance: IBRC Loans (17 Jul 2014)

Michael Noonan: I am advised by the Special Liquidators that there are a number of directors' loans which remain outstanding in IBRC and continue to be managed by the Special Liquidators. It would not be appropriate to comment on individual cases.

Written Answers — Department of Finance: Mortgage Arrears Report Implementation (17 Jul 2014)

Michael Noonan: I can confirm for the Deputy that I have received the following information from the banks. 1) Allied Irish Banks AIB can confirm that c. 1,100 staff across the organisation have received specialist training in relation to the Mortgage Arrears Resolution Process. Of these c. 300 staff work in a dedicated Arrears Support Unit trained to deal specifically with customers in mortgage arrears. 2)...

Written Answers — Department of Finance: Mortgage Arrears Report Implementation (17 Jul 2014)

Michael Noonan: The Central Bank has advised that it does not publish the number of residential mortgages that have been subject to more than one restructuring arrangement. However, I understand that many restructures are proposed on a trial basis during which the payment capability of the borrower is tested before the offer counts as a permanent restructure. As statutory regulator of credit institutions,...

Written Answers — Department of Finance: Mortgage Arrears Report Implementation (17 Jul 2014)

Michael Noonan: The Central Bank's Mortgage Arrears Resolution Targets (MART) process, as announced in March 2013, sets time bound and measurable targets for the six main banks requiring them to systematically address their arrears book.  Under this rolling process, quarterly performance targets have been set to require the banks to propose and put in place durable long term solutions to address...

Written Answers — Department of Finance: Mortgage Arrears Rate (17 Jul 2014)

Michael Noonan: In relation to the proportion of borrowers in mortgage arrears in which one or both parties are classified as unemployed, I am advised by the Central Bank that it does not publish information on this basis. The Central Bank's Code of Conduct on Mortgage Arrears (CCMA) sets out requirements for mortgage lenders dealing with borrowers facing or in mortgage arrears. The CCMA provides...

Written Answers — Department of Finance: Central Bank of Ireland Properties (17 Jul 2014)

Michael Noonan: Under section 6B of the Central Bank Act 1942, the Central Bank Commission is responsible for administrating the provision of accommodation and the acquisition and disposal of land by the Central Bank. As Minister for Finance, I have no role in the matter. I have been advised that the Central Bank is developing proposals for the disposal of...

Written Answers — Department of Finance: Central Bank of Ireland (17 Jul 2014)

Michael Noonan: As per the Central Bank annual statements, gold and gold receivables consist of coin stocks held in the Central Bank, together with gold bars held at the Bank of England. The value of the Central Bank holdings of gold at the end of each year from 2010 to 2013 is set out in tabular form. I am informed by the Central Bank that it has not sold or purchased any gold in the periods 2010...

Written Answers — Department of Finance: Tax Reliefs Application (17 Jul 2014)

Michael Noonan: The information requested by the Deputy is as follows: - Number of Investors Gross Cost to the Exchequer €m 2010 4,042 65.6 2011 2,584 49 2012 3,372 58.5 2013 4,217* 73.1**Figures are provisional and may be revised Number of persons employed in the production of qualifying films Statistics are not available showing the actual number of persons employed in the film industry....

Written Answers — Department of Finance: Tax Yield (17 Jul 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the amount of corporation tax (CT) paid by the top 10 multinational companies (as measured by corporation tax paid) is per the table. Year Gross Amount paid in CT by top 10 multinational companies Total CT paid in year Gross Amount paid by top 10 multinational companies as % of Total CT 2013 €1,561M €4,270.0M 36.56% 2012...

Written Answers — Department of Finance: Ministerial Advisers Remuneration (17 Jul 2014)

Michael Noonan: In my Department, I have appointed two special advisors.  Their salaries are in line with guidelines issued by the Department of Public Expenditure and Reform on the appointment of Ministerial staff. Name Salary (per annum) Mary Kenny €87,258 Eoin Dorgan €84,706

Written Answers — Department of Finance: Gender Balance Issues (17 Jul 2014)

Michael Noonan: In response to the Deputy's question staff in my Department are mindful of the Government's target of achieving 40% female membership on State Boards.  Some 24% of the current board members on bodies under the aegis of my Department are female. Every effort is being made to improve the gender balance on boards under the aegis of my Department while ensuring that the most suitably...

Written Answers — Department of Finance: Government Priorities (17 Jul 2014)

Michael Noonan: The Statement of Government Priorities was publi shed by the Taoiseach and the Tánaiste on Friday, July 11th which covers the remaining 21 months in office. Building on the commitments of the Programme for Government and the Medium Term Economic Strategy, the following key priorities were set out: - Strengthening the Domestic Economy and Prioritising New Jobs for the Unemploye...

Written Answers — Department of Finance: Revenue Commissioners Investigations (17 Jul 2014)

Michael Noonan: I am advised by the Revenue Commissioners that Revenue has been in on- going correspondence with the taxpayer both directly and through parliamentary questions and representations by various deputies.  The current situation is that the taxpayer has refused offers made in June 2014 to meet with Revenue officials to discuss his issues.  He has however accepted the offer of a local...

Written Answers — Department of Finance: Mortgage Arrears Proposals (17 Jul 2014)

Michael Noonan: The Central Bank's Mortgage Arrears Resolution Targets (MART) process, as announced in March 2013, sets time bound and measurable targets for the six main banks requiring them to systematically address their arrears book.  Under this rolling process, quarterly performance targets have been set to require the banks to propose and put in place durable long term solutions to address...

Seanad: Strategic Banking Corporation of Ireland Bill 2014: Committee Stage (17 Jul 2014)

Michael Noonan: I welcome the constructive intention of the Senator's proposal to amend the section dealing with the purposes of this legislation, but I am not in a position to accept it. The business model of the strategic banking corporation of Ireland is based primarily on the on-lending model which is operated successfully by KfW in Germany, ICO in Spain and others. The SBCI is being set up initially...

Seanad: Strategic Banking Corporation of Ireland Bill 2014: Committee Stage (17 Jul 2014)

Michael Noonan: The SBCI needs to be able to lend to sectors of the economy as and when those sectors need support. Certain sectors may suffer credit droughts when all other sectors are experiencing healthy supplies of credit. I fear that introducing Senator Barrett’s amendment would hamper the flexibility of the SBCI to act in specific areas when needed. There is a clear intention for the SBCI to...

Seanad: Strategic Banking Corporation of Ireland Bill 2014: Committee Stage (17 Jul 2014)

Michael Noonan: I thank Senator Reilly for her amendment and her contribution. There is nothing in the legislation precluding the Strategic Banking Corporation of Ireland from applying for a banking licence if it deems it necessary in the future. It would seem therefore that our policy intentions are aligned on this matter. The SBCI’s initial focus will be to use the successful on-lending model....

Seanad: Strategic Banking Corporation of Ireland Bill 2014: Committee Stage (17 Jul 2014)

Michael Noonan: I thank Senator Barrett. The enabling legislation has been designed with flexibility in mind. Therefore, I would prefer to stay away from the inclusion of prescriptive prohibitions in the text. However, it is the case that two of the funders at the establishment of the strategic banking corporation of Ireland will contractually prohibit this funding from being put to use in investment in...

Seanad: Strategic Banking Corporation of Ireland Bill 2014: Committee Stage (17 Jul 2014)

Michael Noonan: I thank both Senators for their contributions. The best thing to do is to describe briefly how I envisage the new credit institution, SBCI, will operate. First, it will be a wholesale bank. That means we will receive funds from KfW bank in Germany, from the European Investment Bank and also from our own strategic investment fund in Ireland. It will do that each year and on-lend, but it...