Results 25,761-25,780 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: I do not expect the delegates to have the answer to my final question. Will Mr. Brown send the regulatory rules that specifically states that to the committee secretariat?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)

Seán Fleming: I welcome Mr. Boucher and his colleagues. We are in the process of meeting with the key banks to discuss the current situation, particularly in regard to mortgages. I noted two bits of good news in the presentation from Mr. Mason. First, I noted that 92% of Bank of Ireland owner-occupier mortgages are not in default and second, that of all the civil bills issued last year, Bank of Ireland...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)

Seán Fleming: I take it that is a "yes" therefore that the Bank does follow after homeless people for the balance. The answer is that it is full recourse lending on the property and the person is liable for the recovery of any shortfall between the sale proceeds and the mortgage loan. I am surprised, but Bank of Ireland seems to suggest it does follow up on homeless people for the negative equity.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)

Seán Fleming: Bank of Ireland got off to a great start here, with a positive presentation. However, it is now saying it will chase up homeless people. I am amazed it would not leave homeless people alone. Does it not think homeless people have enough trouble, without following them for negative equity? I take it as a "yes" that it will follow up on them, because it cannot say it does not. On the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)

Seán Fleming: What percentage is it now? It was 55%.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)

Seán Fleming: What is the final percentage?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)

Seán Fleming: Looking at the figures, the impairment in 2014 was €542 million, down from €1.665 billion the previous year.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)

Seán Fleming: Therefore, that €542 million was well over €800 million, but Bank of Ireland had a write back of approximately €280 million, for a net rate.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)

Seán Fleming: That is still quite a provision in 2014, given what has been said. Is Bank of Ireland over providing?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)

Seán Fleming: The slide indicated in the last quarter the cost of funds was 1.03%, yet the standard variable mortgage rate is 4.5%. I know it has been said people can switch to fixed mortgages, but very few have switched. Why have we such a variation between the cost of funds at 1.03% and the standard variable rate of 4.5%? I know Bank of Ireland took a strong view on this at its meeting this morning,...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)

Seán Fleming: Coming back to the issue of impairment, Mr. Boucher says Bank of Ireland is at 42%.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)

Seán Fleming: Okay. The last topic I want to touch on is one Mr. Boucher may find easier to deal with. Question No. 34 in the document asked about the various issues that go into the costs in determining interest rates and the list included funding costs, operating costs of the bank and credit risk costs. This is the bit I found interesting because we had Ulster Bank in earlier. Its representatives...

Spring Economic Statement (28 Apr 2015)

Seán Fleming: Today, all of a sudden, every penny we put into Permanent TSB, Bank of Ireland and AIB is now a good investment of which the Government is proud.

Spring Economic Statement (28 Apr 2015)

Seán Fleming: I take it as a compliment that five years on, the Government has accepted what we did was an investment in our banks.

Spring Economic Statement (28 Apr 2015)

Seán Fleming: We are proud that it is such a sound investment, even though the Minister, when he was in opposition, decried it at the time.

Spring Economic Statement (28 Apr 2015)

Seán Fleming: I would normally start by welcoming the opportunity to speak on an important occasion like this; although it is an occasion, it is not very important. I have studied the two documents and there is very little in front of us of real significance and relevance to people today. The first document is the April 2015 update on Ireland's stability programme. The second document is the 2015...

Spring Economic Statement (28 Apr 2015)

Seán Fleming: The Taoiseach has said that people phone to thank him but we take that statement with a grain of salt, as others would also do. The Government has sought to hijack the Dáil for a week and take over the media so that people will hear Ministers congratulating other Ministers on a wonderful job being done. They got their time but the exercise may be counterproductive. The public will see...

Spring Economic Statement (28 Apr 2015)

Seán Fleming: The Minister was honest enough to later say the people of Ireland, by way of referendum, introduced these European financial rules that forced the Government of Ireland today and tomorrow, as well as every other government in the EU, to abide by these rules and regulations. That is why we have stability programme updates. The Irish people decided by referendum that we would not have runaway...

Written Answers — Department of An Taoiseach: Departmental Bodies Data (28 Apr 2015)

Seán Fleming: 40. To ask the Taoiseach if the Central Statistics Office provided all information required to EUROSTAT in respect of the classification of Government bodies, including Irish Water, in respect of the general Government sector, in relation to the way these bodies will be reflected in the excessive deficit procedure statement that is expected to be announced by EUROSTAT at the end of October...

Written Answers — Department of Social Protection: Water Conservation Grant (28 Apr 2015)

Seán Fleming: 99. To ask the Minister for Social Protection if she will outline any tendering arrangements that have been commenced, or are being considered, by her Department for work to be carried out by third parties to facilitate the payment and the administration of the new conservation grant to be paid by her Department; if she will provide full details of this; and if she will make a statement on...