Results 21,021-21,040 of 32,864 for speaker:Paschal Donohoe
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Paschal Donohoe: That is correct.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Paschal Donohoe: My Department is provided with minutes of the board meetings due to the relationship framework we have agreed with the banks. The shareholder management unit of the Department of Finance receives the minutes. I do not see a copy of them myself.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Paschal Donohoe: The banks in which we have shareholdings.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Paschal Donohoe: No, it does not. I want to make sure that I am clear on the bank to which the Chairman is referring. Did the Chairman refer to the Central Bank?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Paschal Donohoe: No, I do not receive-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Paschal Donohoe: Those commercial banks-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Paschal Donohoe: -----share the minutes of their board meetings with the shareholder management unit of my Department but I do not see them.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Paschal Donohoe: The unit examines them. In truth, if there are any issues relating to the banks that are important to me as Minister, they are flagged to me, even in advance of them being discussed at board meetings.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Paschal Donohoe: No. I have engaged in this matter to look at how we have managed our relationship with the banks. If one looks at the engagement we have had with the boards of the banks through the minutes that are shared with me, it did not give an indication of the kind of evolution of this issue we are now seeing.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Paschal Donohoe: I hope the Chairman will not mind me saying that I am certain, and am aware, that if there had been an indication of this issue developing and if it had been discussed at the boards and recorded in the minutes of the boards, it would have been alerted to me by my Department.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Paschal Donohoe: No. My Department is satisfied that the board papers we receive record the issues that are discussed in the board meetings.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Paschal Donohoe: I have engaged with the chief executives and the chairpersons of the banks in the way that the Chairman is aware of. I am confident that at a leadership level, there is a commitment from the banks to make sure that their organisations have a culture that is fit for purpose and that reflects what we should have learned from the past and gives us all the best prospects of a better collective...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Paschal Donohoe: When I have engaged on this matter with the banks, I have met individuals who are charged with those kind of duties in the banks where their job is to speak up for the consumer and to speak up in those instances where there is a tension between the right thing to do in the short term and the right thing to do in the long term. I have met individuals who are doing that work in the banks...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Paschal Donohoe: Definitely.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Paschal Donohoe: I am not aware that they do in any meaningful sense at present.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Paschal Donohoe: I am not aware of it.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Paschal Donohoe: We do not have - and I do not have - engagement with those organisations. The Chairman spoke about this matter when I came before the committee in December. These organisations, as is the case with any bank or financial entity regulated in Ireland, should be meeting people in a way that reflects the letter and spirit of the law. I have asked my Department to examine this issue as it has...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Paschal Donohoe: To date, all of the feedback and evidence I have seen points to the effective operation of the Act. I imagine that the key provision the Chairman is pointing to in the Act is that which provides the protections available to the person associated with the loan are not changed if the owner of the loan changes, particularly if it moves from a bank to an entity that is not a bank. It has not...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Paschal Donohoe: I will meet the chairperson of the Credit Review Office tomorrow afternoon. As the Chairman has been raising the matter, I have got a copy of the consumer protection code 2012. The Chairman is correct that the definition includes persons or groups of persons and incorporated bodies with a turnover of less than €3 million. I imagine that what is driving this is that it is a consumer...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Discussion (16 Jan 2018)
Paschal Donohoe: I have said I will so I will.