Results 22,481-22,500 of 26,228 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: In the case of Ireland, the deposit guarantee scheme will cover 1% of covered deposits, which is effectively about €900 million.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: Who would fund that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: Is there a fund for the current deposit guarantee scheme for deposits of up to €100,000?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: Is that the €250 million fund?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: There is one fund for the deposit guarantee scheme, which is a current fund for €400 million. There is also a proposal for a resolution fund, to be 1% of covered deposits, which will come to €900 million in the Irish context.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: Who is funding that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: Will this be separate to the resolution fund?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: So the resolution fund is being calculated on deposits.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: The eligible liabilities guarantee scheme finished on 31 March. What did the scheme cover?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: What is the proposal for the funding of the ESM? How much will Ireland be required to put up in respect of that scheme?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: The European resolution fund will be funded entirely by the banks.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: However, there is a question when one gets down to the pari passu in terms of the structures and the bail-in procedures, which need to be clarified. With these proposals, in what circumstances could the taxpayer be caught to make a contribution? That is what the ordinary person wants answered. Is this scheme bulletproof?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: I thank Mr. Carrigan and his colleagues for attending. Much of the subject matter is very technical in nature and I would like to distil for the ordinary taxpayer and citizen how the framework will work in practice. People will want to know if the European-wide supervisory, resolution, recovery and banking union system will prevent a situation similar to the one that arose in September 2008...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: How often will they have to update their recovery plans? Will it be on a yearly or a six-monthly basis?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: Will they be reported to both the Irish and the European authorities?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Recovery and Resolution Framework for Financial lnstitutions: Discussion (4 Apr 2013)

Kieran O'Donnell: Will each member state have its own resolution authority?

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 13 - Office of the Chief State Solicitor
Vote 19 - Justice and Equality
Chapter 15: Lease of Accommodation for a Probation Service Project (21 Mar 2013)

Kieran O'Donnell: I am not referring to persons of no means but individuals who have significant assets. While everyone is entitled to due process, I have an issue if individuals who have assets gain from this entitlement, as it comes at the expense of hard-pressed taxpayers and law-abiding citizens. Fairness should be applied to the individual who is being represented and to ordinary people. My reference...

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 13 - Office of the Chief State Solicitor
Vote 19 - Justice and Equality
Chapter 15: Lease of Accommodation for a Probation Service Project (21 Mar 2013)

Kieran O'Donnell: If someone is before the Criminal Assets Bureau and courts, can the Department place an attachment on his or her assets to pay for his or her legal counsel?

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 13 - Office of the Chief State Solicitor
Vote 19 - Justice and Equality
Chapter 15: Lease of Accommodation for a Probation Service Project (21 Mar 2013)

Kieran O'Donnell: Why not, given that the CAB and courts are both arms of the State? The position seems ironic.

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 13 - Office of the Chief State Solicitor
Vote 19 - Justice and Equality
Chapter 15: Lease of Accommodation for a Probation Service Project (21 Mar 2013)

Kieran O'Donnell: In most cases the person will not have means, but in certain cases the person has clearly visible assets which come within the scope of the Criminal Assets Bureau. Rather than providing free legal aid, why can the State not place an attachment or lien on the assets to pay for counsel?