Results 21,221-21,240 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: IBRC Loans (14 Dec 2017)

Paschal Donohoe: I propose to take Questions Nos. 115 and 116 together. The information requested is not held within the Department. The Special Liquidators are in the process of compiling a response to this question which I will forward to the Deputy at the earliest opportunity.? However, at a high level, as the Deputy is aware, for operational reasons the loan assets of IBRC were originally...

Written Answers — Department of Finance: Bank Guarantee Scheme Bond Repayments (14 Dec 2017)

Paschal Donohoe: In response to the Deputy’s question, I can confirm that a total of €4.5bn has been received to date relating to the CIFS and ELG schemes. This includes €0.5bn from IBRC. Proceeds from the sale and redemption of the State’s investments in the banks total €12.6bn (including accrued interest at the date of sale/redemption). In addition, a further...

Written Answers — Department of Finance: Central Bank of Ireland Supervision (14 Dec 2017)

Paschal Donohoe: I have been informed by the Central Bank that it has not issued any guidance to financial institutions on the consideration of evidence of gambling transactions as part of the loan application process. The decision to grant or refuse credit is a commercial decision on the part of a regulated entity that must be conducted in accordance with applicable requirements of Irish financial...

Written Answers — Department of Finance: IBRC Loans (14 Dec 2017)

Paschal Donohoe: I am advised by the Special Liquidators that in certain circumstances there would have been a change in interest rates on commercial loans following their appointment. However, any change in interest rate on commercial loans could only be sanctioned by the credit committee of IBRC. Any such changes would have to be recommended by the case staff before being considered by credit committee....

Written Answers — Department of Finance: IBRC Loans (14 Dec 2017)

Paschal Donohoe: As the Deputy is aware, the ongoing Commission of Investigation in relation to IBRC is investigating all transactions, activities and management decisions, other than those relating solely to the acquisition of assets by the National Asset Management Agency, which occurred between 21 January 2009 (being the date of the nationalisation of IBRC) and 7 February 2013 (being the date of...

Written Answers — Department of Finance: IBRC Loans (14 Dec 2017)

Paschal Donohoe: The following table outlines the number and value of commercial loans (including SME and other commercial loans) as at 7 February 2013: Interest Rate  No of Accounts Balance - €m's <1% 166 399  1% - 1.99% 920 8,658 2% - 2.99% 2,729 7,232 3% - 3.99% 1,568 4,893  4% - 4.99% 392 259  5% - 5.99% 271 391  6% - 6.99% 132 159  7% - 7.99% 67...

Written Answers — Department of Finance: IBRC Liquidation (14 Dec 2017)

Paschal Donohoe: The Special Liquidators of IBRC published a progress update report on 5 May 2017 which provides the status of the liquidation as at 31 December 2016, this is available on the Department of Finance website at .A further progress update will be published in H12018 which will provide the status of the liquidation as at 31 December 2017. The Special Liquidators have advised that there are...

Written Answers — Department of Finance: Mortgage Data (14 Dec 2017)

Paschal Donohoe: Statistics from the Central Bank of Ireland's Residential Mortgage Arrears and Repossessions Statistics: Q3 2017, show that rent receivers were appointed to 390 BTL accounts during the third quarter of 2017; this is down from 430 accounts in the previous quarter and continues the downward trend evidenced in recent quarters. In relation to the State supported banks, the figures below...

Written Answers — Department of Finance: Corporation Tax (14 Dec 2017)

Paschal Donohoe: I am advised by the Revenue Commissioners that in relation to Corporation Tax paid by the top groups, data is not yet available for 2017 as the receipts for the calendar year are not yet complete and have not been analysed. The latest available information is in respect of net receipts in 2016. I am advised that the Corporation Tax paid by the top 10 groups in 2016 is...

Written Answers — Department of Finance: NAMA Loan Book Value (14 Dec 2017)

Paschal Donohoe: The most recent details on NAMA's remaining portfolio are available in the Agency's quarterly section 55 accounts for Q2 of 2017.  This report is publically available under the Publications section of the NAMA website. In particular, page 29 of the section 55 accounts details the book value of NAMA's loan assets at 30 June 2017. As outlined in these accounts, the carrying value of...

Written Answers — Department of Finance: Credit Union Lending (14 Dec 2017)

Paschal Donohoe: Further to Parliamentary Question 152 on 13 July 2017, there are currently three funds in place which can be utilised under certain conditions to fund credit unions, two of which have been supported by public funding.  1. The Credit Institutions Resolution Fund (CIRF) The CIRF was established under Section 10(1) of the Central Bank and Credit...

Written Answers — Department of Finance: Insurance Data (14 Dec 2017)

Paschal Donohoe: The operation of the Declined Cases Agreement is not a function that either I, as Minister for Finance, or my Department have responsibility for. Having said that, it should be noted that the Cost of Insurance Working Group recommended the Declined Cases Agreement should be made more transparent under the Report on the Cost of Motor Insurance. On foot of this recommendation, Insurance...

Written Answers — Department of Finance: Tax Yield (14 Dec 2017)

Paschal Donohoe: The positionis that at end-November 2017, cumulative income tax receipts of €18,283 million were marginally down 1.4 per cent or €251 million against profile.  This represents strong annual growth of 4.2 per cent or €738 million. Furthermore, it is also worth pointing out that there were significant one-off income tax payments in the comparable period last year,...

Written Answers — Department of Finance: State Aid Investigations (14 Dec 2017)

Paschal Donohoe: While the Government has never accepted the Commission’s analysis in the Apple State aid decision, we have always been clear that we are fully committed to ensuring that recovery of the alleged State aid takes place without delay and has committed significant resources to ensuring that this is achieved as quickly as possible.   Significant progress has been made on this...

Written Answers — Department of Finance: Tax Collection (14 Dec 2017)

Paschal Donohoe: I am advised by Revenue that its clear preference is always to engage with taxpayers experiencing tax payment difficulties and agree mutually acceptable solutions rather than deploying debt collection/enforcement sanctions to secure payment of outstanding liabilities. However, such engagement is dependent on open and frank discussion with the relevant taxpayer to identify and...

Written Answers — Department of Finance: Negative Equity Mortgages Data (14 Dec 2017)

Paschal Donohoe: This issue is discussed in the Central Bank’s Macro-Financial Review published this week - Box 2: Negative equity in the Irish housing Market: recent developments This notes that approx. 75,000 mortgages are now in negative equity, down from a peak of 320,000 in Q4 2012 .   For Primary Dwelling Homes, 8.7 per cent of loans remain in negative equity (down from 36.2...

Written Answers — Department of Finance: Tax Yield (14 Dec 2017)

Paschal Donohoe: It is assumed that the Deputy is referring to the revised Entrepreneur Relief provided for in s597AA of the Taxes Consolidation Act 1997. I am advised by Revenue that the current lifetime limit applicable to this relief is €1 million in chargeable gains. The cost of increasing this limit to the €5 million, €10 million and €15 million amounts suggested by the...

Written Answers — Department of Finance: Small and Medium Enterprises Data (14 Dec 2017)

Paschal Donohoe: I have been informed by the Central Bank as set out in the Business Credit and Deposits statistical Table A.14.1, available on the the website of the Central Bank, the outstanding SME interest rate as at end-Q2 2017 is 3.21 per cent. The gross new lending weighted interest rate for Q2 2017 is 4.01 per cent. The Central Bank does not collect data on SME interest rates outside of Ireland....

Written Answers — Department of Finance: NAMA Operations (14 Dec 2017)

Paschal Donohoe: As the Deputy will be aware NAMA has now redeemed 100% of its guaranteed senior debt and expects to redeem its subordinated debt on its first call date in March 2020. NAMA will focus on completing its ongoing deleveraging, its Dublin Docklands SDZ and residential funding programmes in the interim period to 2020. It is through the successful completion of these objectives that NAMA currently...

Written Answers — Department of Finance: Central Bank of Ireland Staff (14 Dec 2017)

Paschal Donohoe: The Central Bank has provided a table which gives the staff numbers in the Bank at year end for each of the years 2008 to 2017: Year End Headcount (Full Time Equivalents) 2017 (November month end) 1735.80 2016 1598.85 2015 1515.75 2014 1364.00 2013 1384.20 2012 1394.20 2011 1372.70 2010 1225.90 2009 1043.70 2008 1022.50