Results 22,401-22,420 of 27,945 for speaker:Michael McGrath

Other Questions: Mortgage Arrears Proposals (16 Jan 2014)

Michael McGrath: 9. To ask the Minister for Finance if he is satisfied with the pace and manner in which the banks are implementing the mortgage arrears resolution targets; and if he will make a statement on the matter. [1629/14]

Other Questions: Mortgage Arrears Proposals (16 Jan 2014)

Michael McGrath: This relates to the issue that Deputy Doherty raised in respect of the handling by the banks of the mortgage arrears crisis and, in particular, the mortgage arrears resolution targets programme. Following its audit of the arrears targets programme, the Central Bank confirmed that in the first quarter, 60% of the proposed solutions were in the surrender or repossession category. The figure...

Other Questions: Mortgage Arrears Proposals (16 Jan 2014)

Michael McGrath: It is important the letters threatening repossession and the cases resulting in voluntary surrender are recorded in a separate category. They are not sustainable solutions. They result in the ending of the mortgage. One could regard them as a permanent solution from the point of view of the banks. However, the Department of Finance and the Central Bank should be adopting the same...

Other Questions: Banking Sector Issues (16 Jan 2014)

Michael McGrath: 8. To ask the Minister for Finance the implications for banks’ capital levels and their capacity to increase lending of the bank Asset Quality Review; and if he will make a statement on the matter. [1628/14]

Other Questions: Banking Sector Issues (16 Jan 2014)

Michael McGrath: This question relates to the recent Asset Quality Review of the main Irish banks which is a precursor to the European-wide stress tests next year. My concern is the element of uncertainty created following the announcements by the banks of the affect of the outcome of that review on their balance sheets. All of the banks have stated that they are still above the minimum regulatory capital...

Other Questions: Banking Sector Issues (16 Jan 2014)

Michael McGrath: I thank the Minister for his reply. Can the Minister confirm that the European Central Bank has accepted that the bank balance sheet review will form part of the stress tests that will take place later this year? In other words, does it accept that that box has been ticked and the balance sheets do not have to be reviewed again? I am concerned that the Central Bank did not announce the...

Ceisteanna - Questions - Priority Questions: Small and Medium Enterprises Supports (16 Jan 2014)

Michael McGrath: 4. To ask the Minister for Finance when finance from KfW will be available to Irish small and medium-sized enterprises, SMEs; the amount of funding he expects to be available; the type of lending that will be undertaken; if a memorandum of understanding has been drawn up with KfW; and if he will make a statement on the matter. [1768/14]

Ceisteanna - Questions - Priority Questions: Small and Medium Enterprises Supports (16 Jan 2014)

Michael McGrath: As the Minister knows, the Taoiseach announced in November a new collaborative initiative with a German development bank, KfW. The purpose of my question is to seek additional information as to how the discussions between the Irish and German authorities have been proceeding. Will the Minister give the House a picture of how the new arrangement will work in practice and how KfW will be able...

Ceisteanna - Questions - Priority Questions: Small and Medium Enterprises Supports (16 Jan 2014)

Michael McGrath: I thank the Minister for his reply. Any potential new source of funding for SMEs is to be welcomed. I am seeking new information on the shape of the arrangement. The Minister referred to KfW in Germany extending finance to SMEs through commercial banks. As such, one would assume that a similar arrangement would apply in Ireland. This would necessitate the involvement of the Irish banks....

Ceisteanna - Questions - Priority Questions: Small and Medium Enterprises Supports (16 Jan 2014)

Michael McGrath: This new initiative, which I welcome, is recognition of the fact that Irish banks are not meeting the lending needs of the economy fully. A new initiative such as this one is necessary. I acknowledge the Minister's point that the initiative's announcement helped to promote a positive backdrop for Ireland as we exited the programme. Have the Irish banks been involved in discussions on the...

Ceisteanna - Questions - Priority Questions: IBRC Liquidation (16 Jan 2014)

Michael McGrath: Some protections are outside the contract because they are statutory protections. That is the point.

Ceisteanna - Questions - Priority Questions: IBRC Liquidation (16 Jan 2014)

Michael McGrath: 1. To ask the Minister for Finance the current state of the liquidation process for the Irish Bank Resolution Corporation; the level of discount he expects will apply to IBRC’s loan book; if he expects to make a payment to the National Asset Management Agency in respect of the loans it will take on; and if he will make a statement on the matter. [1767/14]

Ceisteanna - Questions - Priority Questions: IBRC Liquidation (16 Jan 2014)

Michael McGrath: The purpose of this question is to get a sense of the status of the liquidation of IBRC. It is almost 12 months since this House passed emergency legislation to appoint special liquidators. The truth is that we are very firmly in the dark as to how that liquidation process is going in terms of valuations and the book value of the assets. Yesterday the Minister for Finance gave some...

Ceisteanna - Questions - Priority Questions: IBRC Liquidation (16 Jan 2014)

Michael McGrath: The fundamental question is when will we have a comprehensive picture of what is going on in respect of the liquidation of IBRC. That, in essence, is what I seek to find out. Is it not the case that the prohibition that exists in the case of NAMA, which we discussed at a meeting of the Oireachtas Select Sub-committee on Finance yesterday, preventing that organisation from selling loans back...

Ceisteanna - Questions - Priority Questions: IBRC Liquidation (16 Jan 2014)

Michael McGrath: I thank the Minister for his reply. When will we see all of that information, even in aggregate form? The instruction the Minister gave was that the assets would be sold by 31 December or as soon as practicable thereafter. I think those were the words he used in the instruction to the special liquidators. When will the drawbridge come down on this? Is it at the end of the first quarter...

Written Answers — Department of Finance: Equality Proofing of Budgets (16 Jan 2014)

Michael McGrath: 24. To ask the Minister for Finance the steps being taken by the regulatory authorities to ensure the health of the credit union sector and that any weak credit unions are supported; and if he will make a statement on the matter. [1630/14]

Written Answers — Department of Finance: Central Bank of Ireland Investigations (16 Jan 2014)

Michael McGrath: 28. To ask the Minister for Finance if he is satisfied with the progress being made by the Central Bank of Ireland in their investigation into the misselling of payment protection insurance policies; when the investigation will be completed; the expected number of customers who will be entitled to some remediation; and if he will make a statement on the matter. [1631/14]

Written Answers — Department of Finance: Commercial Debt (16 Jan 2014)

Michael McGrath: 36. To ask the Minister for Finance the steps being taken to ensure that the issue of small and medium-sized enterprise debt is being tackled; if he is satisfied with the progress being made; and if he will make a statement on the matter. [1632/14]

Written Answers — Department of Finance: National Pensions Reserve Fund Investments (16 Jan 2014)

Michael McGrath: 69. To ask the Minister for Finance the amount invested to date by the NPRF in respect of the installation of water meters; the full amount it expects to invest; the return that will be generated from the investment; and if he will make a statement on the matter. [2076/14]

Written Answers — Department of Finance: Bank Charges (16 Jan 2014)

Michael McGrath: 70. To ask the Minister for Finance his views on whether the increase in online business banking fees by AIB, in particular the 25% increase in the cost of a basic online business account, will be detrimental to the interests of small and medium enterprises; if he will request that AIB consider the wider economic interests when reviewing its fees; his views on whether the actions of AIB...