Results 3,001-3,020 of 16,537 for speaker:Brian Lenihan Jnr
- Personal Debt (28 Apr 2010)
Brian Lenihan Jnr: That is in addition to the existing State investment, which takes place through the social welfare mortgage interest subsidy.
- Personal Debt (28 Apr 2010)
Brian Lenihan Jnr: I will certainly ask the group to examine such a scheme. It seems to me that these difficulties are particularly acute for those who purchased in 2005 and 2006. I have drawn the commission's attention to that already.
- Personal Debt (28 Apr 2010)
Brian Lenihan Jnr: I presume the reference to part-payments relates to sub-prime lenders, rather than to the main banks.
- Personal Debt (28 Apr 2010)
Brian Lenihan Jnr: He was a sub-prime lender, as we know.
- Personal Debt (28 Apr 2010)
Brian Lenihan Jnr: If the Deputy has particular details, she should forward them to the Financial Regulator so it can attend to them. As regards the extension of time, after last year's emergency budget I asked that consideration be given to extending the moratorium from six months to 12 months.
- Personal Debt (28 Apr 2010)
Brian Lenihan Jnr: Following consultation, the regulator decided it would be possible to extend the moratorium in line with my request. The new limit of 12 months now applies to all regulated lenders and is reflected in the updated code, which came into effect on 17 February last.
- Personal Debt (28 Apr 2010)
Brian Lenihan Jnr: There is a balance to be struck when one is deciding on the amount of time that can be provided immediately.
- Personal Debt (28 Apr 2010)
Brian Lenihan Jnr: I missed the Deputy's question.
- Personal Debt (28 Apr 2010)
Brian Lenihan Jnr: His throatiness sometimes brings his voice very low.
- Personal Debt (28 Apr 2010)
Brian Lenihan Jnr: I will bring the various submissions that have been made to date to the attention of the committee that has been established to examine this issue. The committee will bring a series of recommendations to me on an ongoing basis.
- National Asset Management Agency. (28 Apr 2010)
Brian Lenihan Jnr: In accordance with the NAMA legislation, 95% of the total acquisition value of the acquired portfolio of each participating institution will be in the form of Government guaranteed bonds and 5% will be in the form of subordinated bonds. The interest rate on the Government guaranteed bonds is the six-month EURIBOR, as reset on 1 March and 1 September of each year. The value of the total bond...
- National Asset Management Agency. (28 Apr 2010)
Brian Lenihan Jnr: The Deputy will be delighted to learn that none of her supplementary questions was anticipated. I refer to her question on the extent to which the economic value was taken into account in the assessment of the total value, for example. I will have to forward some of the information she sought to her at a later date. The business plan is a matter for the board of NAMA, which is responsible...
- National Asset Management Agency. (28 Apr 2010)
Brian Lenihan Jnr: It required revision in light of the subsequent valuations.
- National Asset Management Agency. (28 Apr 2010)
Brian Lenihan Jnr: I am sorry, but it was not my plan.
- National Asset Management Agency. (28 Apr 2010)
Brian Lenihan Jnr: Yes, but it was prepared by the interim chief executive of NAMA at the time. I did not interfere in the formulation of the plan.
- National Asset Management Agency. (28 Apr 2010)
Brian Lenihan Jnr: I laid it before the House to help, assist and inform Members and to show that NAMA's work in progress was advanced. I certainly did not present it as a plan of my Department or of myself. It was prepared by the interim chief executive of NAMA on that basis, for the assistance of the House.
- National Asset Management Agency. (28 Apr 2010)
Brian Lenihan Jnr: No, I am not disowning NAMA. I am simply explaining the basis on which I presented the document to the House. The Deputy has misrepresented the basis on which I handed the document into the House. I understand the board is engaged in the preparation of a revised business plan, to be published in June.
- National Asset Management Agency. (28 Apr 2010)
Brian Lenihan Jnr: The valuation to date involves a discount of 47%, on an industry-wide basis. We should be aware that the figures vary between different institutions. We have a duty in this House to stop talking about the banks collectively, and to start talking about particular banks.
- National Asset Management Agency. (28 Apr 2010)
Brian Lenihan Jnr: I am not lecturing the Deputy or Deputy Burton.
- National Asset Management Agency. (28 Apr 2010)
Brian Lenihan Jnr: She is very scrupulous in that regard. There is still a tendency in that regard. On the question of the business plan, I understand from the board, which is responsible for the operation of NAMA, that it will approve a business plan by June of this year.