Results 25,801-25,820 of 34,956 for speaker:Seán Fleming

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Seán Fleming: Mr. Moran used the word "expeditious". It is in his statement.

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Seán Fleming: However, it is not independent. We will move on and agree to disagree on the independence issue. I hate to say it but Mr. Moran's wording was very clever and accurate but nicely confusing to the public. He made it very clear a minute ago, and rightly so, technically correct but giving the wrong impression, that the cost of this would not have to come out of any voted expenditure. In his...

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Seán Fleming: What were the dates of the revised frameworks for the other banks?

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Seán Fleming: Which bank caused the longest delay? IBRC was not a bank at that stage. It was a separate case. While the other banks are continuing and, hopefully, prospering into the future, IBRC was not in that category. It should not have held it up because it was in an entirely different category from the other banks.

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Seán Fleming: In February 2013, the legislation to appoint the special liquidator to IBRC was passed by the Dáil in a late night sitting. This is how things happen. It has been well reported that the legislation had been drafted several months beforehand. Although people think it was rushed legislation, it was not. It had been properly planned and drafted over a long period of time external to...

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Seán Fleming: It was a temporary bridging loan from Bank of Ireland.

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Seán Fleming: I have said that.

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Seán Fleming: When was the special liquidator, Mr. Kieran Wallace of KPMG, brought into the discussion to be on standby?

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Seán Fleming: Were fees discussed? I think it got €70 million so far.

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Seán Fleming: I accept that and I agree with it.

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Seán Fleming: The Department went to the big companies. That is fine.

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Seán Fleming: From October 2012, it could have happened on any day in Dáil Éireann.

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Seán Fleming: I apologise to any viewers for this technical discussion. Some people are lost. However, it is useful to put it on the public record that the liquidation issue was probably planned, discussed and thought out, and I have confidence in the process the Department followed. I have less confidence in what happened last month. I will let others in but will want to come back to talk about other...

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Seán Fleming: Are we dealing with normal Department of Finance matters today? I have a few questions apart from the ones dealing with Siteserv.

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Seán Fleming: In respect of Siteserv, up to when did IBRC continue to be regulated by the Central Bank?

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Seán Fleming: That was in March 2013.

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Seán Fleming: Other than banking.

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Seán Fleming: Through all of this period, before the special liquidator came in, IBRC was a bank regulated by the Central Bank of Ireland, and the Department was the main shareholder.

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Seán Fleming: During this period, what discussions took place with the regulator? All the previous problems arose out of a lack of regulation. What regulation was the Central Bank doing for IBRC during this period?

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Seán Fleming: The Minister has made it clear he has met the Central Bank on various issues in recent weeks. Has this matter been discussed between the Department as shareholder and the Central Bank as regulator? These issues are in the public arena now. What discussions have taken place with the Central Bank about possible regulatory issues? Obviously the Department’s officials had some issues.