Results 18,981-19,000 of 27,945 for speaker:Michael McGrath

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Michael McGrath: What it has said to us is that these customers are impacted and they are now within the framework, and they can take their cases through the system, the internal appeals committee, the ombudsman and potentially to court, if required. I am sure my colleagues will pick up on this issue. I would like to deal with one other issue and I can come back in later. Many of the bank's small and...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Michael McGrath: Mr. O'Keeffe might outline the options for these customers who are facing the prospect of the loss of their overdraft facilities within a two-month period. They have been contacting us and many of them are in real trouble. What are their options?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Michael McGrath: It is the same as the last time we teased this out. A customer with an overdraft of €50,000 who is currently €10,000 overdrawn can max that out, so to speak, prior to 7 June and then it carries over to their everyday account.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Michael McGrath: It will cease to exist as an overdraft and what follows is a matter for the new relationship.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Michael McGrath: I want to ask Dr. Hunt a final question about the overall position with non-performing exposures, NPEs. He said the latest transaction that AIB announced will bring it to circa 8%. The aim is to get to 5% by year end and Dr. Hunt is laying a clear marker that that is not a destination but a step along the road to reducing them further but, in nominal and book value terms, by how much does...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Michael McGrath: We can easily work it out from the figures Dr. Hunt has provided.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Michael McGrath: With regard to the share price and the State's shareholding in the bank, the price was €4.40 at the time of the initial public offering, IPO, in June 2017. It is currently trading at about €4.10. There seems to be a drag on bank share prices generally across Europe. Market capitalisation is €11.1 billion and, as Dr. Hunt pointed out, 71% of that is about €8...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Michael McGrath: With regard to the issue of interest rates and risk-weighted assets, the report recently published by the Department of Finance was very helpful in highlighting the link between interest rates and the capital requirements in terms of the risk weighting. In respect of the figures for AIB it reports for the first half of 2018, 30% is the total figure quoted while the figure for performing...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Michael McGrath: It is important to put on record that AIB has led the way in rate reductions. It is interesting that when one looks back over the past number of years - one of the tables in the questionnaire is quite useful - one can see that in June 2013, the variable interest rate for loan to value between 50% and 80% was 4.29%. It is now 2.95%. Similarly, for lower loan to value of less than 50%, it...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Michael McGrath: The Irish Banking Culture Board will issue its report on Monday. Perhaps Dr. Hunt might give us a sense of what AIB is doing in tangible terms to improve its culture. As I said, Dr. Hunt referred to a customer focused culture. We await the recommendations of the Irish Banking Culture Board. AIB is part of and co-funds the board and presumably will buy into whatever recommendations it...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Michael McGrath: Is this a person?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Michael McGrath: That brings me to my final point, which is reverting back to the whole tracker and prevailing rate issue. It is an ask on my part because there are a lot of people who are watching in about this issue or who will read the transcript later on. I encourage AIB to move away from what I would regard as an overly legalistic approach to this issue. I know that Ms Dooley has a job and she is...

Written Answers — Department of Finance: Insurance Data (16 Apr 2019)

Michael McGrath: 141. To ask the Minister for Finance if the Central Bank gathers data on the number of SMEs refused insurance quotes from a company for public and employer liability; the number of SMEs that have been refused in each of the years 2013 to 2018 and to date in 2019; and if he will make a statement on the matter. [17323/19]

Written Answers — Department of Finance: Exchequer Revenue (16 Apr 2019)

Michael McGrath: 146. To ask the Minister for Finance the dividend paid to the Exchequer by each commercial State company in each year since 2010, in tabular form; and if he will make a statement on the matter. [17635/19]

Written Answers — Department of Finance: Mortgage Interest Rates (16 Apr 2019)

Michael McGrath: 147. To ask the Minister for Finance the weighted average interest rate on all new mortgages agreed, drawn from the retail interest rate statistics published by the Central Bank, for each quarter end since 1 January 2014, in tabular form (details supplied); and if he will make a statement on the matter. [17638/19]

Written Answers — Department of Finance: Tax Code (16 Apr 2019)

Michael McGrath: 149. To ask the Minister for Finance the position regarding the review of betting duty which is being undertaken; his plans to make changes to the betting duty to take effect in 2019; the timeline for the review; if his attention has been drawn to closures in the sector; and if he will make a statement on the matter. [17726/19]

Written Answers — Department of Justice and Equality: UN Convention on the Rights of Persons with Disabilities (16 Apr 2019)

Michael McGrath: 209. To ask the Tánaiste and Minister for Justice and Equality the position regarding the implementation here of the measures contained within the United Nations Convention on the Rights of Persons with Disabilities; and if he will make a statement on the matter. [17538/19]

Written Answers — Department of Justice and Equality: Garda Recruitment (16 Apr 2019)

Michael McGrath: 232. To ask the Tánaiste and Minister for Justice and Equality if new recruits in relation to Garda recruitment are still being drawn from those who applied in 2016; when persons that applied in 2017 and that have completed all stages in the process will be contacted with a formal offer of employment; and if he will make a statement on the matter. [17552/19]

Written Answers — Department of Justice and Equality: Garda Strength (16 Apr 2019)

Michael McGrath: 242. To ask the Tánaiste and Minister for Justice and Equality the strength of the Garda force by rank in each station in a Garda division (details supplied) as at January 2017, January 2018 and April 2019; and if he will make a statement on the matter. [17744/19]

Written Answers — Department of Jobs, Enterprise and Innovation: Insurance Data (16 Apr 2019)

Michael McGrath: 254. To ask the Minister for Jobs, Enterprise and Innovation if her Department or affiliated public bodies gathers data on the number of SMEs refused insurance quotes from a company for public and employer liability; the number of SMEs which have been refused in each of the years 2013 to 2018 and to date 2019; and if she will make a statement on the matter. [17324/19]