Results 2,221-2,240 of 6,631 for speaker:Rose Conway-Walsh

Committee on Budgetary Oversight: Pre-Budget Engagement (Resumed): Irish Fiscal Advisory Council and Nevin Economic Research Institute (20 Sep 2023)

Rose Conway-Walsh: One could say that people have never worked so hard, so why is it that we have such rising rates of deprivation? That is the challenge. When one looks at home owners in the context of interest rates, there have been ten hikes and we are asking households to absorb hundreds of euro in extra payments per month. It is just not sustainable. Something has to crack. Our guests have talked...

Committee on Budgetary Oversight: Pre-Budget Engagement (Resumed): Irish Fiscal Advisory Council and Nevin Economic Research Institute (20 Sep 2023)

Rose Conway-Walsh: I agree with all of that.

Committee on Budgetary Oversight: Pre-Budget Engagement (Resumed): Irish Fiscal Advisory Council and Nevin Economic Research Institute (20 Sep 2023)

Rose Conway-Walsh: It is a positive move that local authorities and public bodies seem to be waking up to their obligations to take on apprenticeships and all of that. That will help. Obviously, there is a lagging effect. It will be a number of years before we see the benefits. We also need an all-island approach to apprenticeships in order to increase our labour market.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Central Bank (20 Sep 2023)

Rose Conway-Walsh: I thank the witnesses for the information they provided and the ongoing assessments they give us. They are useful to us in terms of getting a picture of where things are at. Earlier this year, the Central Bank conducted the impact assessment of the shocked payment impact on the mortgage repayment increase that households would see if they moved from a 3.5% or 4.25 percentage point increase...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Central Bank (20 Sep 2023)

Rose Conway-Walsh: Yes, I refer to table 3 and table 4. I will show Mr. Madouros the exact table we want updated.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Central Bank (20 Sep 2023)

Rose Conway-Walsh: Will Ms Rowland give me an idea of when we will have that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Central Bank (20 Sep 2023)

Rose Conway-Walsh: On the vulture funds, I want to try to get a figure. One of the most useful things that can be done by the Central Bank and by the banks to help in that situation is to bring back those mortgages from the vulture funds to the retail banks. The witnesses can correct me if I am wrong, but in March 2023, some 22,000 of those that were transferred were never in financial difficulty. Is it true...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Central Bank (20 Sep 2023)

Rose Conway-Walsh: I will tell Mr. Makhlouf because this is from the Central Bank's own data and its own accounts. That were 22,000 that should never have been included and they were transferred without the consent of the homeowners. The Central Bank has stated: A further approximately 32,000 accounts were classified as having ‘previously experienced’ financial difficulty. These figures...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Central Bank (20 Sep 2023)

Rose Conway-Walsh: That is very useful. How many of those are trackers?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Central Bank (20 Sep 2023)

Rose Conway-Walsh: I am coming across another problem for people whose banks shut down, be it Ulster Bank or the other banks that shut down. There can be an unpaid item through absolutely no fault of the customer, and that could be used by a bank to say it cannot accept this because a person has a missed payment, although that can be just in terms of the transfer from one bank to another.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Central Bank (20 Sep 2023)

Rose Conway-Walsh: Can Ms Rowland say that a person's credit rating will not be impacted because of a non-payment made during the transfer from a bank that was closing to the other bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Central Bank (20 Sep 2023)

Rose Conway-Walsh: I will tell Ms Rowland of an incident. Sometimes when we talk about things here, they are far removed from what people are experiencing. Somebody misses their monthly mortgage payment of €375 because of the transfer over to the bank. This is a vulnerable customer. They go into the bank concerned and offer the €375 but the bank says they cannot accept it and it has to be done...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Central Bank (20 Sep 2023)

Rose Conway-Walsh: Yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Central Bank (20 Sep 2023)

Rose Conway-Walsh: Yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Central Bank (20 Sep 2023)

Rose Conway-Walsh: I want the Central Bank to understand what is happening because it may not be aware that people are falling through the net, particularly vulnerable customers.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Central Bank (20 Sep 2023)

Rose Conway-Walsh: Can the delegation see the power imbalance? The switching criteria stipulates that, "Customers must have a satisfactory bank account performance i.e. no unpaid items such as a direct debit or standing order". It does not qualify that in any way so all of the power is given to the individual bank, so there is an imbalance. There is an asymmetry of information in the first instance and there...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Central Bank (20 Sep 2023)

Rose Conway-Walsh: Yes, and it is not about the one individual. It is about changing the system.