Results 21,761-21,780 of 26,228 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee (11 Sep 2013)
Kieran O'Donnell: That is great.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee (11 Sep 2013)
Kieran O'Donnell: I think there is general consensus on this among committee members. Would it be possible to draft a letter to the Minister requesting what the committee is seeking? Such a letter can go back to the members and we can agree what will go forward. As a committee we have taken a cross-party consensus approach. Perhaps Deputy Dooley would consider the drafting of a letter. From what Deputy...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee (11 Sep 2013)
Kieran O'Donnell: Deputy Dooley and I know each other reasonably well. What I am proposing is very straightforward. I have been on committees over many years and this is normally the format. The Deputy is well aware of that. We are all in agreement. We need to be clear about what precisely we are looking for. A letter can be drafted this morning effecting the agreement and it can go today. I think that...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee (11 Sep 2013)
Kieran O'Donnell: I would like to make an observation. A letter has come back from the Minister for Finance and I suggest that a letter should be sent from the committee, taking both suggestions into account. I suggest the committee should agree that is what should happen now.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Kieran O'Donnell: How much has PTSB written off in 2013 to date?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Kieran O'Donnell: How much has PTSB set aside for the write off of mortgages in provisions?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Kieran O'Donnell: But PTSB will write off mortgages.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Kieran O'Donnell: I want to delve into the figures we have been provided with. Slide No. 1 sets out what was provided in the return to the Central Bank. How many of the 1,600 legal proceedings set out on the slide are expected to end up in repossessions? Slide No. 2 outlines PTSB's overall business. Does it include customers fewer than 90 days in arrears?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Kieran O'Donnell: How many of the 21,600 customers listed for the end of September are in arrears for 90 days? The return on assisted voluntary sales was 800, which makes up 12% of the 6,650 figure returned to the Central Bank, went up to 1,000 at the end of June and between June and the September it increased by 100% to 2,000. That equates to 500 repossessions or assisted sales per month, which is a very...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Kieran O'Donnell: How much is being lost on the tracker loan book? My question is related to the issue of viability. Is PTSB engaging in writing off mortgages?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Kieran O'Donnell: How many of those are expected to end up in repossessions?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Kieran O'Donnell: Mr. O'Sullivan cannot give me a figure.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Kieran O'Donnell: In the limited time I have left, I ask Mr. O'Sullivan to address my question on assisted voluntary sales because they appear to be escalating at a drastic rate. Why is that the case and have alternatives been offered to customers? Clearly, some of them are in arrears for fewer than 90 days because they do not tie into the figures. I ask for an explanation for this.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Kieran O'Donnell: I will cut to the chase because I have very little time. People are coming to my office with offers from PTSB on the assisted voluntary sale route. I question whether these customers are being provided with alternatives prior to reaching that point. How did the figure for voluntary sales increase from 800 at the end of June to 2,000 two months later?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Kieran O'Donnell: I do not have the time for this because the clock is running down.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Kieran O'Donnell: It is a very simple question. The rate of growth in assisted voluntary sales, which in effect are repossessions, suggests people are not being provided with alternatives prior to reaching that point. Why had the figure increased by so much in two months?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Kieran O'Donnell: That is a significant jump.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Kieran O'Donnell: Normally the correlation with the other institutions is that the growth in the rate of repossessions is much less than the rate of growth in long-term solutions.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Kieran O'Donnell: In respect of the customers who are coming to me, the issue is that they are not being provided with alternatives. They are effectively being told this is the option. I ask Mr. Masding to re-examine it. On the bank's tracker book, is it doing mortgage write-offs for customers?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Permanent TSB (5 Sep 2013)
Kieran O'Donnell: Are all those people-----