Results 30,841-30,860 of 33,392 for speaker:Paschal Donohoe

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Paschal Donohoe: To go to another area touched on earlier with regard to implementation of the fitness and probity standards, will Mr. Elderfield read out for us again the statistics he gave to Deputy Ross on how many applications were made and the response of his office?

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Paschal Donohoe: So 2,234 were approved, 331 were returned as incomplete and 93 were withdrawn by the applicant.

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Paschal Donohoe: A question frequently put to me in my constituency is why more people have not gone to jail over this. Why have more people not been visibly held to account? If Mr. Elderfield were standing in my shoes, what answer would he give?

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Paschal Donohoe: Another point is with regard to the people needed to do this work. Mr. Elderfield referred twice today in our session to the ability to keep people-----

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Paschal Donohoe: -----in the context of inducements and wages offered elsewhere. I noticed over the weekend that another State body, NAMA, is looking at offering reward schemes to its employees because of the salaries the staff are offered by private companies. Do we pay enough to the people we need to keep them in these roles?

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Paschal Donohoe: Such as?

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Paschal Donohoe: Deputy Ross asked about whistleblowing and Mr. Elderfield mentioned in his answer that there were 42 whistleblowers last year. Were they from throughout the entire banking system? Were they from within his organisation?

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Paschal Donohoe: I want this on the record because we had a discussion about whistleblowing in the Central Bank.

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Paschal Donohoe: It was across the entirety of the banking system.

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Paschal Donohoe: I thank Mr. Elderfield.

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Paschal Donohoe: I thank Mr. Elderfield for coming in this afternoon. I apologise for keeping him waiting earlier in the day. I thank him for all the work he has done in his role in which he has had a very positive impact. I wish him the best of luck in his next assignment. How many split mortgages are there at the moment?

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Paschal Donohoe: End of December, is it?

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Paschal Donohoe: How many are there?

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Paschal Donohoe: For the entire country there are 52.

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Paschal Donohoe: Mr. Elderfield and the Government have been identifying split mortgages as a strong policy option for dealing with this crisis and Mr. Elderfield is telling me that at the moment there are 52 of them across the entire country.

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Paschal Donohoe: Okay.

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Paschal Donohoe: Up to the end of December there were 52 across the entire country. What does that tell us about the progress we are making in dealing with this crisis?

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Paschal Donohoe: What does Mr. Elderfield expect that figure to be for the end of the first quarter?

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Paschal Donohoe: Coming from a base of 52, what kind of increase can we expect? Are we talking about hundreds or thousands?

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Paschal Donohoe: Why has there been such reluctance to deploy that? Taking on board Mr. Elderfield's generous interpretation as to why there might be so few, if one forgot we were talking about mortgages and laid aside for a moment the financial difficulty our banks are trying to escape, the principle of split mortgages is a very obvious principle when considering difficulty with stressed debt or the...