Results 3,661-3,680 of 35,540 for speaker:Pearse Doherty
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)
Pearse Doherty: The profits are going through the roof. Mr. Hayes mentioned a point in time in March, which is before a lot of the other interest rate increases. This is based on Davy's research. If any of the witnesses want to tell us what they expect the net interest margin to be in their banks, that is fine, but Davy has projected these figures. They are the ones I used. I should have referenced...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)
Pearse Doherty: I spend a lot of time dealing with the ECB database and all the rest. I have the email from the Central Bank showing the data that I referred to and I will give it to the banks so they may be able to write to the committee in that regard. Permanent TSB does not provide lending to people whose income is in sterling.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)
Pearse Doherty: In my county, there are over 5,000 people who commute across the Border daily and nearly three quarters of them, according to the CSO, are doing that for work. Therefore, there are thousands of people for whom Permanent TSB has decided it will not provide mortgage lending, despite the fact it was rescued by some of those very same people. Before I come back to Permanent TSB, is it the same...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)
Pearse Doherty: Does Bank of Ireland apply any penalty? Does it reduce the income by 10% or 20% as part of its calculations or does it take the full value of the sterling income in the calculation of the mortgage?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)
Pearse Doherty: I would appreciate that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)
Pearse Doherty: Those stress tests are in the region of 20%, is that right? I am not saying that is what AIB applies but it is common for banks to apply 20%, with the exception of Permanent TSB which does not go into that market. There is a question of fairness in this regard, given that this is a small island. I am not familiar with Bank of Ireland but the banks operate across the Border. As I said, my...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)
Pearse Doherty: Do you not need to?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)
Pearse Doherty: Nobody is coming in and getting a mortgage over the counter these days.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)
Pearse Doherty: The banks would not allow it in the first instance even if they wanted to.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)
Pearse Doherty: These fall under the definition, under the consumer mortgages credit agreement regulations of 2016, as foreign currency loans. What AIB and Bank of Ireland offer, even though they operate on both sides of the Border, is a foreign currency loan. It will be deemed a foreign currency if a loan is provided to one person in one jurisdiction whose income comes from another jurisdiction. It is...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)
Pearse Doherty: I will leave it at that, on that point, and ask that the banks look at their own operations and the penalty that applies. The Good Friday Agreement requires all of us to try to harmonise issues on an all-island basis and that 20% penalty is sometimes excessive. I want to mention an issue I raised two years ago with Mr. Crowley and others, and that is the instant payment app. It is...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)
Pearse Doherty: The individual banks might want to give feedback on this final point. A recent ESRI paper has questioned or pointed up a serious risk in regard to the requirement we have, as a State, in terms of the capacity of the construction sector to access credit. It did a detailed assessment looking at historic trends, how it has been funded through deposits and so on. It calls into question whether...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)
Pearse Doherty: Does Mr. Hayes have anything to add from an overall banking perspective? He represents more than just the three banks.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)
Pearse Doherty: That is what I was trying to get at because it is a completely different message that is being sent in all of that. If Dr. Ugur does not have the data for outstanding mortgages, that is fine. We can revisit that. There is one other issue, which relates to the profitability of the banks. Mr. Hayes mentioned the importance of profitability in the banks and increasing the capital. We all...
- Reversal of Planned Fuel Price Increases: Motion [Private Members] (26 Sep 2023)
Pearse Doherty: I thank all the speakers to spoke in favour of the motion tonight because it is a very important one. As many of them mentioned, we are in the middle of a cost-of-living crisis. I will not name all the parties. It was disappointing we did not hear from any of the Rural Independent Group Deputies who were not here to contribute to the debate but I am sure they will have plenty talk about on...
- Reversal of Planned Fuel Price Increases: Motion [Private Members] (26 Sep 2023)
Pearse Doherty: The key issue here-----
- Reversal of Planned Fuel Price Increases: Motion [Private Members] (26 Sep 2023)
Pearse Doherty: That is why I am sorry the Rural Independent Group Deputies were not able to contribute to the debate because I am sure-----
- Reversal of Planned Fuel Price Increases: Motion [Private Members] (26 Sep 2023)
Pearse Doherty: That is why I said I am sorry they were not here to contribute to the debate because as I am sure they would have a lot to add to it.
- Reversal of Planned Fuel Price Increases: Motion [Private Members] (26 Sep 2023)
Pearse Doherty: I thank everybody for contributing to the debate and supporting the motion. It is disappointing that the Government has tabled an amendment. I have raised these points with the Minister who was shouting over to Deputy Carthy saying, "Ye supported this", and all that. I can read him the transcripts. He is giving the impression now that he set this date of 3 October because he wanted to...
- Reversal of Planned Fuel Price Increases: Motion [Private Members] (26 Sep 2023)
Pearse Doherty: You did not even turn up.