Results 22,021-22,040 of 27,945 for speaker:Michael McGrath

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)

Michael McGrath: In Ireland's case, from where will the money come?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)

Michael McGrath: It will go from the Central Fund to an intermediate account and onwards to Greek authorities.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)

Michael McGrath: I thank Mr. Ó Brolcháin, Mr. Mac Donncha and their colleagues. The provision relating to ICS-Bank of Ireland resulted from an amendment to the restructuring plan which was approved by the European Commission. It was part of that process and was a condition which had to be put through. For ICS to effect that amendment, an amendment is required to the Central Bank legislation so...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)

Michael McGrath: Is Bank of Ireland required to put on the market mortgages of up to €1 billion and batched deposits, assets and liabilities, in matching amounts up to €1 billion?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)

Michael McGrath: It is not required to sell them, just to put them on the market.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)

Michael McGrath: What is the logic of that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)

Michael McGrath: Whether or not to sell would remain a commercial decision of the bank. Is that the position? That is outside the Bill but I am trying to understand the transaction we are trying to facilitate.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)

Michael McGrath: What is the platform?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)

Michael McGrath: It is the infrastructure.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)

Michael McGrath: To do that, the amendment is required so the assets and liabilities can first be transferred to Bank of Ireland.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)

Michael McGrath: Mr. Mac Donncha indicated that ICS is the only building society in the country. Under the Central Bank legislation it cannot transfer anything to a bank.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Draft Heads of Central Bank Bill 2014: Department of Finance (26 Mar 2014)

Michael McGrath: I will move on to Greece and the ESM. Is the securities market programme the precursor to outright monetary transactions, OMT? Could Mr. Ó Brolcháin explain what happened here? Did the ECB intervene as part of one of the bailouts for Greece and buy bonds on the markets? Is it the interest income deriving from that which has been distributed to the constituent central banks of...

Written Answers — Department of Finance: Mortgage Resolution Processes (25 Mar 2014)

Michael McGrath: 214. To ask the Minister for Finance his views on recent statements from the European Commission on dealing with losses being incurred by banks relating to holdings of tracker mortgages; and if he will make a statement on the matter. [13204/14]

Written Answers — Department of Finance: Mortgage Protection Policies (25 Mar 2014)

Michael McGrath: 222. To ask the Minister for Finance if his Department or the Central Bank of Ireland has an estimate of the number of mortgage holders whose life assurance or mortgage protection policy might have lapsed since the mortgage was taken out; and if he will make a statement on the matter. [13298/14]

Written Answers — Department of Finance: Bank Charges (25 Mar 2014)

Michael McGrath: 231. To ask the Minister for Finance the reason different charges can apply to ATM transactions depending on where the ATM is located including, for example, in a shop; and if he will make a statement on the matter. [13449/14]

Written Answers — Department of Finance: Banking Operations (25 Mar 2014)

Michael McGrath: 232. To ask the Minister for Finance the position regarding banks issuing drafts for less than €1,000; if the Central Bank of Ireland has been in contact with banks regarding the issue; and if he will make a statement on the matter. [13450/14]

Written Answers — Department of Finance: NAMA Portfolio (25 Mar 2014)

Michael McGrath: 234. To ask the Minister for Finance further to Parliamentary Question No. 78 of 5 December 2013, the number of houses that have been transferred by the National Asset Management Agency to each local authority; the way this breaks down between apartments and two and three bedroom houses; and if he will make a statement on the matter. [13490/14]

Written Answers — Department of Finance: Bank Guarantee Scheme Bond Repayments (25 Mar 2014)

Michael McGrath: 246. To ask the Minister for Finance if he will specify in detail the contingent liability exposure of the State relating to banking sector guarantees, including debts that have not yet matured under the eligible liabilities guarantee scheme and the also potential liabilities under deposit guarantee scheme; and if he will make a statement on the matter. [13629/14]

Written Answers — Department of Finance: State Debt (25 Mar 2014)

Michael McGrath: 247. To ask the Minister for Finance if he will provide a detailed breakdown of Ireland's off-balance sheet debt; and if he will express the total as a percentage of our GDP; and if he will make a statement on the matter. [13633/14]

Written Answers — Department of Finance: Property Taxation Application (25 Mar 2014)

Michael McGrath: 255. To ask the Minister for Finance the person responsible for the payment of the local property tax where a receiver has been appointed to the property by a financial institution; and if he will make a statement on the matter. [13905/14]