Results 30,301-30,320 of 36,355 for speaker:Pearse Doherty

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Pearse Doherty: My final question is about something I will put to the Taoiseach when the Dáil resumes. Mr. Duffy's name has been mentioned in the public media with regard to other banks such as Danske Bank and the meeting he held with a senior Government Minister. I have engaged with Mr. Duffy in respect of constituents and I have met with him at committee meetings and in private session. I welcome...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Pearse Doherty: I appreciate that. Despite the fact that Mr. Duffy does not have a decision function, is it appropriate to facilitate a meeting between the CEO of a State bank and a Minister in the Government with regard to the personal difficulties of that Minister and the potential risk of bankruptcy and expulsion from the Dáil as a result?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Pearse Doherty: That is what happened in this case, that it was a side issue.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Pearse Doherty: I will try to be as brief as possible. I welcome the information on Priory Hall, and I hope we will get engagement to see when the process will conclude. Going back to the issue of strategic defaulters, there was mention of a figure of 20% of those in arrears who could pay their mortgage, going on AIB's expenditure guidelines. Will those guidelines be published so that people can judge for...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Pearse Doherty: I understand. We have the ISI guidelines and would appreciate the AIB guidelines.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Pearse Doherty: The Mercer report was referred to earlier. Over 1,200 staff in AIB earn in excess of €100,000. Have any of them received a reduction in basic salary? I am not talking about pensions or increments but will base salaries be reduced as a result of the Mercer proposals?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Pearse Doherty: How many of the offers of split mortgage were withdrawn by AIB?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Pearse Doherty: How many of the offers of split mortgages-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Pearse Doherty: I will move on because I am conscious of the time. Option K in the code of conduct has not been referred to. Option K is reducing the principal sum to a specific amount - a debt write-down. It is an option but Mr. Duffy did not mention it in his presentation. He did mention it as a result of questions. In respect of the figures he provided for quarter two, it did not appear. Did option...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Pearse Doherty: Are we are talking about just a handful?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Pearse Doherty: When does Mr. O'Connor expect the Central Bank to verify these figures? The Central Bank is to verify these figures which are just figures from the bank in respect of the offers.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Pearse Doherty: I have a number of other questions.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Pearse Doherty: Let me just deal with the strategic defaulters. In respect of strategic defaulters, I note Mr. Duffy's explanation of how he defines them. He talks about people who have savings in a non-current account that would be in excess of their arrears. If I was in arrears for 90 days or more, my child was 16 years of age and about to go to college and I had to pay college fees and was making...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Pearse Doherty: The focus here is on the quarter. That is what the announcement was. There are targets set down for the banks. I ask Mr. Duffy to dispute this. Let us deal with the facts. The target by the Central Bank for the past quarter was 6,200 sustainable offers. Of those offers made to the bank that do not or may not involve the customer losing their home, there are 2,267. Is that fact?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Pearse Doherty: Mr. Duffy presented figures to the committee previously and I will dive into these again. In the year to date, on split mortgages, there were 1,600 offers. He may correct me if I am wrong, as there are so many figures. Seventeen of them have been completed or taken up. Would Mr. Duffy explain that again? It does not make sense. There is a significant appetite and much support for split...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Pearse Doherty: That is fair enough, but members have not seen the letters. Consequently, I can only make suggestions because Mr. Duffy claims these 5,894 letters make up part of the long-term sustainable solutions. I put it to him that under the regulatory regime announced and imposed on his bank, it must be a long-term solution. However, a letter to a customer asking him or her to engage is not a...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Pearse Doherty: In response to Mr. Duffy, AIB has offered 8,600 long-term solutions to customers. Many people across the State were holding their breath in the hope these targets eventually would lead to something positive for those who were tearing their hair out night after night and who genuinely could not meet their mortgage repayments. The targets were supposed to be a wake-up call for the banks to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Pearse Doherty: I am sorry, 6,200 long-term offers. Excluding what I will call the engage or repossess letters, there have been 2,700 offers. Of these, 439 have been voluntary surrenders, which brings down the figure to 2,300 genuine engagements for people who can stay in their houses and who now know there is an offer from AIB. The bank has not exceeded the targets. It has not even reached or come...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Pearse Doherty: I welcome our guests to the committee. On the figures, I am a little frustrated. I said to Deputy McGrath earlier that the presentation was very detailed, but the subject of this meeting is not in the information the delegates are giving us. There have been numerous speakers, but what we are looking for concerns the last quarter. There was a regulatory requirement on AIB to offer...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Pearse Doherty: Yes. In terms of what we know about the figures for the first quarter, they were 143 splits; capital arrears, 917; term extensions, 153; voluntary surrender, 439, mortgage to rent, 33; trade downs, five; cash flow problems AIB has dealt with, 444; capital interest and additional, ten; and repossessions, 5,000. Where are the gaps in respect of the aforementioned 1,500 or what figures have I...