Results 3,021-3,040 of 16,537 for speaker:Brian Lenihan Jnr
- National Asset Management Agency. (28 Apr 2010)
Brian Lenihan Jnr: I mentioned that to the Deputy a moment ago.
- National Asset Management Agency. (28 Apr 2010)
Brian Lenihan Jnr: On the question of the total amount, it is clear it will be substantially less than the statutory limit of â¬54 billion, but I am not in a position to say until the valuation methodology is complete. The best estimate which can be given at this stage is that the final valuation will be broadly in line with the initial valuation of the initial tranche.
- National Asset Management Agency. (28 Apr 2010)
Brian Lenihan Jnr: No final estimate can be given until the bottom-up valuation is done. What was the Deputy's question on Anglo Irish Bank?
- National Asset Management Agency. (28 Apr 2010)
Brian Lenihan Jnr: As I understood it, a figure of 53% was the latest stage it had reached.
- National Asset Management Agency. (28 Apr 2010)
Brian Lenihan Jnr: Again, that figure remains to be finalised.
- National Asset Management Agency. (28 Apr 2010)
Brian Lenihan Jnr: I will arrange for NAMA to forward the information to the Deputy. It is information which she should have at her disposal. On Irish Nationwide, there was a particular problem, namely, the failure to take security out on particular assets.
- Fiscal Policy. (28 Apr 2010)
Brian Lenihan Jnr: I propose to take Questions Nos. 48 and 75 together. I consider it important to examine the overall picture in regard to credit for small and medium-sized enterprises, including positive aspects, and not to focus solely on negative aspects of the report. The third Mazars report on lending to small and medium-sized enterprises, which covers the period from October to December 2009, showed...
- Fiscal Policy. (28 Apr 2010)
Brian Lenihan Jnr: I thank the Leas-Cheann Comhairle. In a sense, Mazars has been superseded by the appointment of Mr. John Trethowan and the focus of the discussion was on Mazars. He is now engaged in his work and will be in a position to advise me on drawing up the type of regulation to which Deputy Bruton referred. On the rolling over of arrangements and guarantees, I made it very clear in my statement on...
- Fiscal Policy. (28 Apr 2010)
Brian Lenihan Jnr: There is very little we can do about that because the markets determine the rate at which we buy and sell money. I am confident that the measures begin taken at the European Central Bank will stabilise interest rates and prevent their undue increase.
- Strategic Investment Bank: Motion (Resumed). (28 Apr 2010)
Brian Lenihan Jnr: I am pleased to have the opportunity to respond to this debate. Before I do so, I refer to Deputy Kenny's wildly inaccurate claim this morning that Irish banks were exposed to some â¬7 billion of Greek debt. For the record, the total exposure of the covered banks to Greek sovereign debt is negligible, less than â¬40 million. It really is not in the interests of this economy - nor does it...
- Strategic Investment Bank: Motion (Resumed). (28 Apr 2010)
Brian Lenihan Jnr: I am aware that the Labour Party leader quoted Professor Honohan's comment that the banks have reacted to their difficulties by reducing their appetite to take risk. Professor Honohan has also said that our banks lost their edge in small business lending some time ago. I agree completely. I made that point in my banking announcement before Easter. The way to tackle this problem is to...
- Strategic Investment Bank: Motion (Resumed). (28 Apr 2010)
Brian Lenihan Jnr: And to the National Pensions Reserve Fund.
- Strategic Investment Bank: Motion (Resumed). (28 Apr 2010)
Brian Lenihan Jnr: I am not.
- Strategic Investment Bank: Motion (Resumed). (28 Apr 2010)
Brian Lenihan Jnr: It happens to us all.
- Strategic Investment Bank: Motion (Resumed). (28 Apr 2010)
Brian Lenihan Jnr: I move amendment No. 2: To delete all words after "Dáil Ãireann" and substitute the following: "commends the Government for its actions to stabilise the financial system and notes that its policies have already delivered a cleaner, well-capitalised and better funded Bank of Ireland that is now in a position to provide credit to support economic recovery and new job creation; commends the...
- Written Answers — Small Business Finance: Small Business Finance (28 Apr 2010)
Brian Lenihan Jnr: I propose to take Questions Nos. 48 and 75 together. I consider it important to look at the overall picture in relation to SME credit including positive aspects and not to focus solely on negative aspects of the report. The third Mazars report on lending to SMEs, which covers the period from October to December 2009, showed that credit applications in number and value terms rose slightly in...
- Written Answers — Economic and Monetary Union: Economic and Monetary Union (28 Apr 2010)
Brian Lenihan Jnr: In light of the very significant shock to the global economy the issue of imbalances is one that is foremost in the minds of policymakers generally. The Deputy will be aware that the European Council has asked the President of the European Council to establish, in cooperation with the Commission, a task force with representatives of the Member States, the rotating presidency and the ECB. This...
- Written Answers — Bank Losses: Bank Losses (28 Apr 2010)
Brian Lenihan Jnr: It is a matter for the Board of each and Management of each institution to assess and make public as appropriate forecasts for future losses. As Minister, I don't make such forecasts but I do expect the Financial Regulator will make its own assessment of capital needs of banks, having regard to both expected and potential losses and appropriate capital levels. New capital levels have...
- Written Answers — Banking Sector Regulation: Banking Sector Regulation (28 Apr 2010)
Brian Lenihan Jnr: In the course of the NAMA Bill debate, I indicated I would examine options for the introduction of a legislative regime to deal in a systematic way with distressed financial institutions. My objective is to ensure the State has in place a range of tools to address problem institutions effectively in the interests of maintaining financial stability, minimising reliance on public moneys and...
- Written Answers — Public Service Pay: Public Service Pay (28 Apr 2010)
Brian Lenihan Jnr: The Financial Emergency Measures in the Public Interest Acts, 2009 under which the pension related deduction and pay reductions were applied to public servants make provision for a review of the operation, effectiveness and impact of both Acts before 30 June 2011. In addition to the criteria set out in the Acts, the draft Public Service Agreement provides that the reviews will take account of...