Results 22,141-22,160 of 27,945 for speaker:Michael McGrath
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Michael McGrath: I understand that. When it is expected that the sale of the mortgage book will be concluded? I am aware that a deadline of 14 March applies to the making of bids. When is it expected that the sale will conclude?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Michael McGrath: Will there be a public statement at that stage?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Michael McGrath: I would like to ask about the methodology that is being used to sell the loan book and to divide it into four separate bundles. Are there any standard discounts that are applying? Is it all essentially a function of the bidding process? Do any standard discounts apply in the prospectus and in the way these have been marketed?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Michael McGrath: Is that relevant to the mortgage book?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Michael McGrath: Is the combined discount of approximately 6.8% the standard discount that applies in respect of the mortgage-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Michael McGrath: How does that relate to the bidding process?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Michael McGrath: The bids could come in higher than that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Michael McGrath: Yes. It is the benchmark point.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Michael McGrath: Okay. I would like to make a couple of brief points. I am looking for clarification on the number of mortgage customers. The numbers that have been provided today are somewhat different from the numbers that have been provided in response to parliamentary questions. Page 3 of the witnesses' submission referred to a total of 11,825 individual residential mortgage customers. I take it that...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Michael McGrath: Does the witnesses have a split of that?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Michael McGrath: We would like to have the official figures for the record. The figure that was mentioned is different from the figure that was provided in replies to parliamentary questions. Those replies indicated that over 13,000 customers-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Michael McGrath: Unfinanced-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Michael McGrath: Okay. If we could have the split of the 11,825 figure-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Michael McGrath: Okay. The number of customers would be slightly smaller than that. The customer could have two accounts in some cases. I would also like to ask about development bonds for residential developments that the IBRC held at the point of liquidation. Have the liquidators quantified the cumulative value of those bonds? How many such bonds exist? I know this has been raised in the House during...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Michael McGrath: How many developments is that across?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Michael McGrath: Perhaps Mr. Wallace can send them on.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Michael McGrath: Their status is essentially that of a non-secured creditor.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Michael McGrath: What is the likelihood of some of that money-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Michael McGrath: Okay, but there is a potential exposure of €60 million in relation to bonds offered by developers.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Michael McGrath: To be drawn down-----