Results 19,281-19,300 of 26,656 for speaker:John McGuinness
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)
John McGuinness: How many other cases are there? Did Ms Rowland earlier state there are 1,200?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)
John McGuinness: Will the Senator deal with the report first?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)
John McGuinness: I thank Mr. Sibley. I will suspend the sitting as there will be a vote in the House at 12.45 p.m.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: I invite Professor Lane to make his opening statement for this part of the meeting.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: I wish to clarify something about the sale of loans to vulture funds. Who established 5% as the target bad debt ratio for banks?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: There is a general, but unstated, political view from Europe that we should try to stick to the average of 5%.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: The point is that there is no directive of a 5% target from the SSM and the Central Bank here has no target of 5%. It was an average across Europe at one point. That is fine. Mr. Sibley has clarified the position. In circumstances where a bank has warehoused part of a loan, can Mr. Sibley clarify what is defined as a non-performing loan and what he might expect the banks to sell? I am...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: What would Mr. Sibley say to banks that are using the excuse of the warehoused part of a loan to deem it as non-performing and then sell it on to a vulture fund?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: Can the Central Bank do anything with banks that are selling on these loans that have been partly warehoused? Can it do anything to make its view known that the banks cannot claim these are non-performing loans because they are, in fact, a solution within the bank?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: No, it is focused on all of them. They are all at it in one shape or form.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: He is not like that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: The witnesses have given an answer which is neither here nor there. I prefer the answer that was given by the representatives from the European Central Bank when they came before the committee recently to discuss the SSM. Danièle Nouy said it is not yet the right time to consider changing the current salary or bonus rules in place for Irish banks. That is pretty clear. I certainly...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: I do not know whether Governor Lane or Mr. Sibley have answered the question. I do not know whether they are clued into this at all. Let me explain. I understand what the banks have been doing. On a macro level, they have their big customers. They have worked hard going down to the very smallest of loans so they are almost down to that level now where they have a huge number of loans...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: Is the ICB finished, in that case?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: Will Professor Lane address the issue of small business owners not being able to get loans, and the credit union option being closed off to them as well? Is there not an argument for easing the regulation of credit unions in this area? They grew small businesses in their day because they knew the individuals and the risk better than most. Now they are virtually the only financial...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: Can credit unions do mortgages now?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: With total freedom.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: On the earlier question, what did Mr. Sibley say about credit unions' ability to lend to someone who they know went through a bad time but is now less risk?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: Is it still the case that the lender, whether a credit union or not, makes the choice?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: It is not penalised in any way should the choice be to support the particular business or individual.