Results 19,821-19,840 of 27,019 for speaker:Michael Noonan

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Michael Noonan: I thank Deputy Fleming for moving the amendment. I understand that the aim of Deputy McGrath's amendment is to ensure the consumer is correctly informed and protected and it does so by seeking to impose obligations on credit servicing and other firms in relation to the credit which is sold. The first set of obligations are around commercial information on the deal to sell the credit, that...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Michael Noonan: Everybody knows what his or her mortgage is because that is given under the mortgage arrangement which he or she initially entered into. People know what their obligations are in terms of their repayments and the capital outstanding. One line of argument is to say that if there are discounts they should apply to individual mortgage holders as well but the problem with that is what one would...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Michael Noonan: In making his point, Deputy Fleming is misinterpreting my position. Mr. Boucher is chief executive officer of Bank of Ireland, which has a well known position of no discounts or write-downs. However, that is not the situation across the banks. AIB, for example, has given discounts amounting to €480 million in its restructuring of mortgages over the last two years, and other lending...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Michael Noonan: I wonder if I may be excused. I have a meeting, and the Minister of State, Deputy Harris-----

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Michael Noonan: I thank members for their contributions. It has been an interesting discussion.

Order of Business (28 May 2015)

Michael Noonan: Fianna Fáil was probably only here for nine of those days.

Topical Issues: Credit Availability (28 May 2015)

Michael Noonan: I thank the Deputy for raising this important issue. He is referring to the report published last week entitled, Creating Credit, not Debt, by Mr. Georges Gloukoviezoff, UCD Geary Institute for Public Policy. It was jointly funded by the Social Finance Foundation and the Central Bank of Ireland. It proposes the establishment of a new personal micro-loan service, operated through the credit...

Topical Issues: Credit Availability (28 May 2015)

Michael Noonan: I again thank the Deputy. The report was jointly funded by the Social Finance Foundation and the Central Bank of Ireland. As the foundation is not widely known, I note that it is a wholesale lender of social finance, providing finance for social lending organisations in order that they, in turn, can lend to borrowers seeking funding primarily for the purposes of community development and...

Written Answers — Department of Finance: Financial Irregularities (28 May 2015)

Michael Noonan: I do not have role in investigating specific instances of alleged market manipulation whether in this jurisdiction or another nor can I comment on the redress available in other jurisdictions.  I am advised by the Central Bank of Ireland that it is not aware of a complaint against an Irish authorised financial services firm alleging manipulation in FX markets and it has been...

Written Answers — Department of Finance: IBRC Liquidation (28 May 2015)

Michael Noonan: As the Deputy is aware, for operational reasons the loan assets (totalling €21.7 billion) of Irish Bank Resolution Corporation Limited (in Special Liquidation) ( IBRC ) were originally divided into six portfolios:Evergreen, Sand, Rock, Salt, Stone & Pebble. Prior to establishing the sales processes the Special Liquidators corresponded with borrowers and sought...

Written Answers — Department of Finance: Mortgage Interest Rates (28 May 2015)

Michael Noonan: I propose to take Questions Nos. 72, 75 and 76 together. As the Deputies are aware, I met with senior management of Ireland's six main mortgage lenders last week. The meetings focused on the mortgage market and specifically the comparatively high standard variable rates currently being charged by the banks. I outlined my view, that Standard Variable Rates being charged in the...

Written Answers — Department of Finance: IBRC Operations (28 May 2015)

Michael Noonan: I am advised by my officials that they are not aware of it being brought to the attention of either me or my officials that the person referred to in the question was acting as a mediator between IBRC and the other person whose details have been supplied in the question in the months after the sale of Siteserv.

Written Answers — Department of Finance: Property Tax Collection (28 May 2015)

Michael Noonan: I am advised by Revenue that compliance rates of 96% in respect of Local Property Tax (LPT) were achieved for both 2013 (Half Year) and 2014. The compliance rate for 2015 (year to date) is 94%, which is ahead of target at this point. The minority of property owners who failed to meet their LPT obligations can be subjected to a range of debt collection/enforcement options as provided for by...

Personal Explanation by Minister (9 Jun 2015)

Michael Noonan: I would like to take this opportunity to correct statements I made in good faith to Dáil Éireann on 6 May 2015 during Private Members' business, and in response to Parliamentary Question No. 77 of 30 April 2015, following the discovery of new information. First, I would like to correct the record in relation to statements I made during Private Members' business on 6 May 2015, in...

Draft Commission of Investigation (Certain matters concerning transactions entered into by IBRC) Order 2015: Motion (9 Jun 2015)

Michael Noonan: I move:That Dáil Éireann: — having regard to the specific matters considered by Government to be of significant public concern regarding transactions entered into by the Irish Bank Resolution Corporation (IBRC); — noting that it is the opinion of the Government that these matters of significant public concern require, as the best method of addressing the issues...

Draft Commission of Investigation (Certain matters concerning transactions entered into by IBRC) Order 2015: Motion (9 Jun 2015)

Michael Noonan: What Deputy Doherty put on the record is covered by the terms of reference.

Draft Commission of Investigation (Certain matters concerning transactions entered into by IBRC) Order 2015: Motion (9 Jun 2015)

Michael Noonan: I have taken legal advice in the last hour and it is covered.

Draft Commission of Investigation (Certain matters concerning transactions entered into by IBRC) Order 2015: Motion (9 Jun 2015)

Michael Noonan: I have not received the amendment yet.

Draft Commission of Investigation (Certain matters concerning transactions entered into by IBRC) Order 2015: Motion (9 Jun 2015)

Michael Noonan: It is within the terms of reference.

Draft Commission of Investigation (Certain matters concerning transactions entered into by IBRC) Order 2015: Motion (9 Jun 2015)

Michael Noonan: The goose was dead when I got in.