Results 23,901-23,920 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: IBRC Liquidation (21 Feb 2013)

Michael McGrath: To ask the Minister for Finance his views on whether the sale of the Irish Bank Resolution Corporation loan book by the special liquidator may have unintended consequences for some of the debtors concerned who required the support of the former bank to remain as going concern to businesses; and if he will make a statement on the matter. [9481/13]

Written Answers — Department of Finance: Mortgage Arrears Report Implementation (21 Feb 2013)

Michael McGrath: To ask the Minister for Finance if he will provide a detailed statement on the respective role of the Central Bank of Ireland and his Department in tackling the mortgage arrears problem; if he will specify the mortgage arrears resolution options that the banks have now been asked to implement by the Central Bank and if he will further specify the reporting arrangements that apply between the...

Written Answers — Department of Finance: Central Bank of Ireland (21 Feb 2013)

Michael McGrath: To ask the Minister for Finance the actions that will be required should the Central Bank of Ireland make a loss on disposal of the bonds it currently holds in its investment portfolio resulting from the revised arrangements in respect of the promissory notes; and if he will make a statement on the matter. [9517/13]

Written Answers — Department of Finance: National Debt (21 Feb 2013)

Michael McGrath: To ask the Minister for Finance if he expects discussions to take place in the near future at European level on extending the maturity of loans drawn down by Ireland from the EFSF and EFSM; if he has discussed the situation with his Portuguese counterpart; and if he will make a statement on the matter. [9518/13]

Written Answers — Department of Finance: State Banking Sector (21 Feb 2013)

Michael McGrath: To ask the Minister for Finance his plans for the State's holding in permanent TSB; and if he will make a statement on the matter. [9519/13]

Written Answers — Department of Finance: Pension Provisions (21 Feb 2013)

Michael McGrath: To ask the Minister for Finance his views on whether there should be equality of treatment for beneficiaries of the TSB bank pension scheme when compared with actions undertaken at other covered banks to address their pension scheme deficits; and if he will make a statement on the matter. [9520/13]

Written Answers — Department of Finance: Pension Provisions (21 Feb 2013)

Michael McGrath: To ask the Minister for Finance if protocols exist between his Department and the covered banks in relation to addressing a deficit on its employee pension schemes; and if he will make a statement on the matter. [9521/13]

Written Answers — Department of Finance: IBRC Liquidation (21 Feb 2013)

Michael McGrath: To ask the Minister for Finance the implications for the credit standing of mortgage customers of IBRC arising from recent problems in respect of deduction of mortgage payments; the actions that have been taken to rectify the situation; and if he will make a statement on the matter. [9522/13]

Written Answers — Department of Finance: IBRC Liquidation (21 Feb 2013)

Michael McGrath: To ask the Minister for Finance if he will take into consideration the impact on mortgage customers and the variable rate charged on their loans of a sale of the IBRC mortgage book; and if he will make a statement on the matter. [9523/13]

Written Answers — Department of Finance: Promissory Note Negotiations (21 Feb 2013)

Michael McGrath: To ask the Minister for Finance his views on the comments by German Bundesbank President Jens Weidmann in relation to the revised arrangements in respect of the promissory notes; and if he will make a statement on the matter. [9524/13]

Written Answers — Department of Finance: IBRC Staff (21 Feb 2013)

Michael McGrath: To ask the Minister for Finance the total redundancy payments made to employees of IBRC under schemes offered by the firm; the number of employees concerned; the terms offered; and if he will make a statement on the matter. [9525/13]

Written Answers — Department of Finance: IBRC Liquidation (21 Feb 2013)

Michael McGrath: To ask the Minister for Finance if consideration had been given prior to the decision to liquidate IBRC for the company to pay a dividend to the State from the annual interest it received under the promissory note arrangement as a means of reducing the annual cost associated with it; and if he will make a statement on the matter. [9526/13]

Written Answers — Department of Finance: IBRC Liquidation (21 Feb 2013)

Michael McGrath: To ask the Minister for Finance if he will consider applying to clients of Irish Bank Resolution Corporation the same criteria for applications for rent abatements as is currently applied by National Asset Management Agency;; and if he will make a statement on the matter. [9527/13]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Michael McGrath: I am trying to get to the reason the numbers are so low. Will Mr. Trethowan give me an indication of the timeframe from when an SME first submits an application for a loan to the bank to when the application eventually ends up on his desk? I know the SME must first get a decision from the bank and then appeal the decision within the bank and that it is only following that decision that it...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Michael McGrath: Mr. Trethowan is confirming that from the day the SME first applies to the bank for credit the application can end up on his desk within 30 working days.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Michael McGrath: That has not been my experience. When SMEs come to me, I point to the option to go to the Credit Review Office, but they are so weary of dealing with banks for weeks and months they do not want to hear about going through another process. They apply to the banks and a few weeks later they comes back to them to look for more information that they did not look for initially - it is like...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Michael McGrath: With the permission of the Chair, I have two other questions. What is the cost of the Credit Review Office? Has it cost approximately €1.5 million to date?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Michael McGrath: It costs approximately €500,000 a year to run the office. Mr. Trethowan has upheld about 120 appeals so far and the banks have agreed to implement his recommendations in these cases. That works out at a figure of €12,500 for each successful appeal. Does this represent value for money?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Michael McGrath: Mr. Trethowan has said only AIB and Bank of Ireland come under his umbrella and that AIB, Bank of Ireland and Ulster Bank are lending to SMEs in the economy. There is a distinct lack of competition. Does Mr. Trethowan have evidence of this and is it coming through in the way banks are interacting with customers? Has the lack of competition among banks in extending credit to SMEs become a...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Michael McGrath: Thank you, Mr. Trethowan.