Results 29,241-29,260 of 34,778 for speaker:Seán Fleming
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (7 Nov 2013)
Seán Fleming: Yes. The safer countries will carry-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (7 Nov 2013)
Seán Fleming: Equally.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (7 Nov 2013)
Seán Fleming: Mr. Carrigan said that approximately 20 banks could come under this resolution regime; he can send that information on to us. How many banks in Ireland come under the single supervisory mechanism, SSM?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (7 Nov 2013)
Seán Fleming: And they are-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (7 Nov 2013)
Seán Fleming: Is PTSB not part of AIB?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (7 Nov 2013)
Seán Fleming: I am sorry. I get confused.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (7 Nov 2013)
Seán Fleming: Correct. I am getting the point now. In terms of contributions by the banks in the context of risk base, I suggest that a bank that is state owned should have a lower risk. For example, AIB is a State-owned bank whereas I would have thought that a bank owned by any state in the Union intrinsically would be of lower risk for resolution because for it to go to resolution not only would it...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (7 Nov 2013)
Seán Fleming: Mr. Carrigan said earlier that after ten years this fund could have up to €55 billion. What has been the total cost to date in terms of the bank failures in Europe in the past six or seven years? How does that compare to the fund we are setting up for ten years time?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (7 Nov 2013)
Seán Fleming: The lower number represents-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (7 Nov 2013)
Seán Fleming: Are all euro countries in the SSM?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (7 Nov 2013)
Seán Fleming: Mr. Carrigan is saying that for the euro area it is €55 billion.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (7 Nov 2013)
Seán Fleming: Whereas if it is done on an EU basis for the 27 member states it would be €78 billion, and some of the other ten not in the euro are free to come and join this if they wish.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (7 Nov 2013)
Seán Fleming: Has the United Kingdom agreed to that?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (7 Nov 2013)
Seán Fleming: How much will it put into its fund? That is relevant to us as we are so close to the UK.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (7 Nov 2013)
Seán Fleming: I know it is late but it is as well to tease this out. Mr. Carrigan might think I am asking layman's questions but I am deliberately putting them in that way because the people of Ireland need to know about this.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (7 Nov 2013)
Seán Fleming: If Mr. Carrigan is saying the €78 billion is a net figure on the basis of the bail-in, junior bondholders taking hits and so on, what was the gross cost of the banking failures over those years, assuming new measures that were not in place were in place, to arrive at the €78 billion? What figure did Mr. Carrigan start at to come to that?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (7 Nov 2013)
Seán Fleming: Broadly.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (7 Nov 2013)
Seán Fleming: I ask the question from the perspective of a layman.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (7 Nov 2013)
Seán Fleming: That is correct.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (7 Nov 2013)
Seán Fleming: Could Mr. Carrigan give the figure again?