Results 23,681-23,700 of 26,986 for speaker:Richard Boyd Barrett
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Richard Boyd Barrett: So, it does not bother Mr. Boucher one way or the other if people are concerned about it.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Richard Boyd Barrett: What role did Mr. Boucher play, if any, in the Jurys Doyle deal, involving Sean Dunne?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Richard Boyd Barrett: Mr. Boucher cannot tell us if he played any role in that deal, is that correct?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Richard Boyd Barrett: Okay. We are not getting very far here, are we? How much would it cost to write down the mortgage accounts that are in negative equity?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Richard Boyd Barrett: How much would it cost to write them down to current market levels?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Richard Boyd Barrett: That is fine. How many mortgage accounts does Bank of Ireland have?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Richard Boyd Barrett: So, in answer to the question Mr. Boucher could not answer, the bank has approximately 15,000 mortgage accounts in arrears, according to my rough calculations.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Richard Boyd Barrett: I ask Mr. Boucher to repeat that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Richard Boyd Barrett: Why would Bank of Ireland not consider writing off that negative equity, which would put the vast majority of approximately 16,000 mortgage holders who are in arrears into a sustainable position? It would also put those whose accounts have already been restructured into a more favourable position whereby they could free themselves of a huge debt burden sooner. Why would Bank of Ireland not...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Richard Boyd Barrett: Bank of Ireland is claiming success because it has restructured quite a lot of mortgages. However, as Deputy Higgins has pointed out, a lot of those people are in pretty miserable circumstances, even though they may just be able to manage the restructuring arrangement the bank has agreed with them. The bank has the whip hand, let us be honest. However, it is not a very good situation and...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Richard Boyd Barrett: The pace of arrears is abating?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Richard Boyd Barrett: According to these figures, the number of mortgage loans in arrears in June 2011 was 5.89% of the mortgage book but one year later the number is 9.22%.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Richard Boyd Barrett: That does not sound like an abating pace to me. It has risen from 5.89% to 9.22% in one year and Mr. Boucher is saying that indicates a slow down in mortgage distress.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Richard Boyd Barrett: I would put it to Mr. Boucher that it is not a situation which looks like it is improving. There has been an increase of nearly four percentage points-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Richard Boyd Barrett: It is a very significant challenge. I estimate that Bank of Ireland has 32,000 mortgage customers who are either in restructured arrangements or in arrears now and a significant number of additional customers who are getting into distress. Mr. Boucher says that the problem is slowing but I do not see the evidence for that. Why does the bank not consider writing off the unsustainable...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Richard Boyd Barrett: It would come from the money the bank was given, namely, the recapitalisation money.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Richard Boyd Barrett: Why is Bank of Ireland different?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)
Richard Boyd Barrett: AIB could tell us how many mortgages were in arrears and how many extra applications were coming in per month as a result of difficulties with arrears.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)
Richard Boyd Barrett: We will agree to disagree. Obviously, this is also a Government policy matter, but it is also Government policy to allow AIB the freedom to make these decisions. I believe AIB is making the wrong decisions, because unless we get radical debt write-down, we will continue to bump along the bottom. I believe AIB is failing to grasp the significant influence it has on whether we will have the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)
Richard Boyd Barrett: I have one final short question.