Results 25,741-25,760 of 34,777 for speaker:Seán Fleming
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Seán Fleming: Why is this the case?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Seán Fleming: For the equivalent type customer here and in the North who meets all similar requirements such as income, risk, property value, occupation, public servants, why would there be a different risk factor?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Seán Fleming: Mr. Brown is saying that the cost of providing a mortgage is higher here-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Seán Fleming: -----than if I were to drive to the other side of the road into Northern Ireland.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Seán Fleming: I ask Mr. Brown to spell out the difference between the requirement here for capital against what is required in the North.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Seán Fleming: I ask Mr. Brown to translate that into money for us. What ratios are required here versus in the North?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Seán Fleming: That is the figure but what is the capital requirement? Mr. Stanley is saying it is different for the banks here to lend a mortgage here versus the capital requirement in the Six Counties. What is the difference in the two markets, between our Central Bank and their authorities there?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Seán Fleming: Is 15%, 20% or 10% capital required? What is the difference? The witnesses have stated three times that the capital requirements for providing a mortgage here is higher. Tell me the difference.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Seán Fleming: The chief executive said something different just ten seconds ago. He said the capital requirement is different. Now Mr. Stanley is saying that they are the same.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Seán Fleming: So the capital requirements are the same but the risk is different.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Seán Fleming: Mr. Stanley is saying approximately 0.75%.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Seán Fleming: Has the risk in the market not improved significantly due to the reduced number of new mortgages? Surely the risk factor of a person who has been granted a mortgage, following a high level risk assessment, should be lower? In simple language, is the bank making riskier lending for mortgages in the Republic than in Northern Ireland?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Seán Fleming: If the level of risk is the same and the capital requirement is the same, why is there a different of 0.75% in the rate? It would be extraordinary if the bank were taking greater risks on the property market in the Republic than would be approved across the Border in Belfast. I am not getting the point of the argument that Mr. Stanley is making.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Seán Fleming: Are these the rules of Ulster Bank or the Central Bank?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Seán Fleming: Are they the rules of Ulster Bank?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Seán Fleming: Mr. Bell talks about the historical performance, how many years in terms of history does the bank go back? Does the bank go back five, ten or 40 years when looking at the historical performance? This is feeding into the current rate.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Seán Fleming: How many years does the bank have to look back to see the historical performance?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Seán Fleming: Is Mr. Bell saying that because in the previous ten years, new customers in their twenties, who were children ten years ago and are now borrowing because they have reasonable jobs will have to pay a higher interest rate in the South, solely because of the historical performance of other people's loans ten years ago? Is that what Mr. Bell is saying?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Seán Fleming: Does he think that is fair?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Seán Fleming: I want to be positive. I thank Ulster Bank for its announcement about not chasing people in negative equity who would be eligible for social housing. If we could get a number of other banks to do the same, we would be very pleased. I acknowledge that positive move. New mortgage holders, who have never had a mortgage in their life before will be penalised by the mortgage rate for the...