Results 18,921-18,940 of 27,945 for speaker:Michael McGrath

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

Michael McGrath: That is fine. I assume the voluntary sale numbers are different. They are still in the ownership of the borrowers and those people may well remain in those properties until the sale is completed. Those are separate to the numbers outlined. There were 288 assisted voluntary sales of owner-occupier properties in 2018.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

Michael McGrath: There can be significant difficulties for returning immigrants to Ireland in seeking to set up a bank account and access a mortgage. The issues involved include criminal justice legislation aimed at money laundering and the need to have a permanent address in Ireland, as well as other factors. When it comes to underwriting and making a decision about a mortgage application for a returning...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

Michael McGrath: I thank Mr. O'Beirne. The Chair is being very generous with time. I have other questions about the bank's investment in technology and the transformation promised in that area. It involves a significant investment by the bank. Will Ms. McDonagh bring us up to date on where Bank of Ireland is in respect of modernising its IT infrastructure?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

Michael McGrath: The Bank of Ireland staff tracker group has been raised a couple of times already and I will not labour the point but I encourage the bank not to take a legalistic approach when examining this issue. I have read the documentation and will submit questions about it which, I imagine, will be the same questions Deputy Pearse Doherty will have. When the bank reads the documentation, if it is...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

Michael McGrath: I am just giving our guests my take on it.

Written Answers — Department of Finance: Property Tax Data (9 Apr 2019)

Michael McGrath: 162. To ask the Minister for Finance the number of properties exempt from the local property tax, by each exemption type; if the exemptions are time limited in legislation; when the exemptions are set to expire; his plans to extend the exemptions in 2019; if legislation will be required in each case to extend the exemption; the number of properties that are now exempt but will no longer be...

Written Answers — Department of Education and Skills: Special Educational Needs (9 Apr 2019)

Michael McGrath: 218. To ask the Minister for Education and Skills further to Parliamentary Question Nos. 300 and 301 of 26 March 2019 and in the context of the review processes referred to, his plans to hold a separate review for developing schools in May or June 2019; and if he will make a statement on the matter. [16498/19]

Written Answers — Department of Justice and Equality: Banking Sector (9 Apr 2019)

Michael McGrath: 247. To ask the Tánaiste and Minister for Justice and Equality the number of ATM thefts involving the removal of the ATM machine from a bank for each year since 2010; and if he will make a statement on the matter. [16338/19]

Written Answers — Department of Health: Disabilities Assessments (9 Apr 2019)

Michael McGrath: 377. To ask the Minister for Health when a child (details supplied) in County Cork will have an assessment of need under the Disability Act 2005; and if he will make a statement on the matter. [16286/19]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Michael McGrath: I welcome Mr. Masding and his colleagues. I thank them for the opening statement and the questionnaire, which we got in advance. I will start by raising the issue of NPLs. In his opening statement, Mr. Masding gave an overview of the two major portfolio sales or securitisations, Glas and Glenbeigh. When Glenbeigh is fully executed, the bank's headline NPL rate will reduce from 26% to 10%....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Michael McGrath: Mr. Masding stated that Permanent TSB has a long way to go. To where does it need to get? Does it need to get to approximately 3.5%? By when does it need to reach that target? Is it the case that, as reported in the media, it and the other banks are expected to approach the European average? Has that been conveyed to him by the regulators?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Michael McGrath: Mr. Masding regards a time horizon of two to three years as reasonable. The regulator may take a different view but we do not know the full extent of the contact between Mr. Masding and the regulator.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Michael McGrath: In the past year, Permanent TSB sold mortgages relating to approximately 20,000 properties. Almost 13,000 of them were owner-occupier mortgages. That raises many concerns for those directly affected because many so-called vulture funds do not offer the full suite of mortgage restructuring solutions. For example, although Mr. Masding will argue that the protections follow and that borrowers...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Michael McGrath: I welcome that Mr. Masding outlined in his opening statement that his focus in terms of mortgage pricing will be on the bank's existing mortgage customers. This issue has been discussed on several occasions by the committee. Permanent TSB is still treating its existing mortgage holders less favourably than its new mortgage customers. There is a difference of 0.5%, or 50 basis points, in...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Michael McGrath: I hear Mr. Masding. He made similar comments before and there has been some progress, but it remains the case that a MVR customer is paying 0.5% more than a new customer. There are also differences for fixed-rate customers. PTSB's three-year fixed interest rate offering to an existing customer is 3.7%. For a new customer, it varies between 2.85% and 3.1%, depending on LTV ratios. That is...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Michael McGrath: I see that 27% of PTSB's mortgage accounts continue to pay a SVR of 4.5%, which is an insane rate for anyone in this day and age, given the market conditions that have prevailed for a number of years. This relates to 34,700 customer accounts. While that number is lower than it was in previous years, it is still over a quarter of the bank's mortgage book. Will Mr. Masding outline to the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Michael McGrath: It is important that Mr. Masding does that. In simple terms, 35,000 of PTSB's mortgage customers are paying more than they should be. That is not an arguable issue and has nothing to do with European averages and so on. Even within the bank, they should be, and can be, paying less. We all need to send out that message loud and clear. How many vacant properties are in the bank's possession?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Michael McGrath: Will Mr. Masding provide a breakdown of the 1,193 units in possession at the end of 2018, to include how many of them were tenanted and how many were vacant?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Michael McGrath: When Mr. Masding was before us in June of last year the respective figures were 1,100 vacant properties and 900 tenanted properties.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Michael McGrath: The 1,100 has decreased to 500 and the 900 has decreased to 750.