Results 4,061-4,080 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Mortgage Data (31 May 2016)

Michael Noonan: I have been informed by the lender referred to in your question that the 11% quoted represents the amount of new mortgage loans that are considered as exceptions under the Central Bank of Ireland's macro prudential rules and does not include any exemptions for, for example, switchers or negative equity customers. The Deputy may also be aware that, in relation to the...

Written Answers — Department of Finance: Departmental Advertising Expenditure (31 May 2016)

Michael Noonan: The information requested by the Deputy in relation to the amount of money spent by my Department on media advertising fees from March 2011 to February 2016 is set out in the following table. Year Media organisation Purpose of advertisement Cost (€) Annual total to media organisation Annual Department total (€) 2011 Brindley Advertising Appointments of Board of Directors of...

Written Answers — Department of Finance: Stability and Growth Pact (31 May 2016)

Michael Noonan: There are two sources of flexibility within the EU rules designed to encourage Member States to undertake public investment. Firstly, within the expenditure benchmark pillar of the fiscal rules investment in capital formation is granted favourable treatment.  Within the rules spending on capital formation is smoothed over four years with the result that only one quarter of the increase...

Written Answers — Department of Finance: Financial Services Regulation (31 May 2016)

Michael Noonan: I understand that the appointment of a receiver can be done under company law or land and conveyancing law. The Companies Act 2014 includes detailed provisions which regulate the appointment and the powers of receivers, examiners and liquidators and is the responsibility of my colleague the Minister for Jobs, Enterprise and Innovation. While the 2014 Act does not specify any...

Written Answers — Department of Finance: IBRC Account Holders (31 May 2016)

Michael Noonan: As a result of the special liquidation and continued wind-down of the bank, IBRC (in special liquidation) is no longer in a position to provide copy statements to former customers, this is due to the decommissioning of legacy banking systems as the bank is being wound-down.  The Special Liquidators have confirmed that they continue to provide statements on any remaining...

Written Answers — Department of Finance: Programme for Government Implementation (31 May 2016)

Michael Noonan: I propose to take Questions Nos. 249 and 250 together. Primary responsibility for the broad scope of housing policy is a matter for my colleague Simon Coveney TD, Minister for Housing, Planning and Local Government.  He is developing an Action Plan for Housing and, having regard to the number of Departments and agencies which will have an involvement in that...

Written Answers — Department of Finance: Motor Insurance (31 May 2016)

Michael Noonan: As Minister for Finance, I am concerned that there should be a stable insurance sector and that risks to policyholders and to the wider financial system are limited.  I am aware of the increasing cost of motor insurance.  However, the ability of the Government to influence insurance pricing is limited as insurance companies are required under European law to price in...

Written Answers — Department of Finance: Motor Insurance (31 May 2016)

Michael Noonan: I propose to take Questions Nos. 252 and 253 together. In my role as Minister for Finance, I have responsibility for the development of the legal framework governing financial regulation. The provision of insurance cover and the price at which it is offered is a commercial matter for insurance companies and is based on an assessment of the risks they are accepting and adequate...

Written Answers — Department of Finance: Motor Insurance (31 May 2016)

Michael Noonan: I propose to take Questions Nos. 254 and 255 together. Insurance Ireland, which represents the insurance industry in Ireland, operates a Declined Cases Agreement, which all motor insurers in Ireland are required to sign up to as part of their authorisation requirements. I have been informed by Insurance Ireland that the agreement is administered by a Committee made up of representatives of...

Written Answers — Department of Finance: Banking Operations (31 May 2016)

Michael Noonan: The only banks which may be required to consult with my Department in the event of a large asset disposal are AIB and Permanent TSB. These banks may be obliged to consult with me under the terms set out in their respective Relationship Framework Agreements. The Relationship Framework Agreements govern what has been designed to be an arms-length relationship between the institutions,...

Written Answers — Department of Finance: Loan Books Purchasers (31 May 2016)

Michael Noonan: The Deputy will be aware that the Consumer Protection (Regulation of Credit Servicing Firms) Act, 2015 was enacted on 8 July 2015. It was introduced to fill the consumer protection gap where loans were sold by the original lender to an unregulated firm. The 2015 Act introduced a regulatory regime for a new type of entity called a 'credit servicing firm'. Credit Servicing Firms are now...

Written Answers — Department of Finance: Small and Medium Enterprises Debt (31 May 2016)

Michael Noonan: I have been advised by the Central Bank that it does not publish data on this basis. However, the Credit Demand Survey conducted on behalf of the Department monitors the requirements for SMEs, the latest available survey indicates that non-bank finance for SMEs is considerably lower than bank finance. For the period April 2015 to October 2015 the survey indicates that 10% of SMEs sought...

Written Answers — Department of Finance: Mortgage Data (31 May 2016)

Michael Noonan: The Central Bank has informed me that, at end-2015, the total value of residential mortgages held by the non-banks was €8.6 billion, numbering 47,402 mortgage accounts for Principal Dwelling House and Buy to Let combined. Further details are available on the Central Bank's website. As I have previously said, the sale of a loan from one entity to another does not change the terms...

Written Answers — Department of Finance: Mortgage Data (31 May 2016)

Michael Noonan: I have been informed by the Central Bank that up until March 2016 data in relation to residential home loans or mortgages held by credit unions was not collected.  However, since March 2016 credit unions are required to report on the amount outstanding in House Loans in their Quarterly Prudential Returns to the Central Bank. A House Loan is defined as a loan made to a member...

Written Answers — Department of Finance: NAMA Social Housing Provision (31 May 2016)

Michael Noonan: The Deputy will be aware that NAMA does not own residential property. Rather NAMA has acquired loans and its role is that of a lender with claims over security for its loans, like a bank, rather than a property owner or lessor. In that capacity, NAMA holds security over properties that are owned by its debtors or, in the case of enforcement, which are managed on behalf of those debtors by...

Written Answers — Department of Finance: Motor Insurance (31 May 2016)

Michael Noonan: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation but am prohibited from interfering in the provision or pricing of insurance products.  The EU framework for insurance expressly prohibits Member States from adopting rules which require insurance companies to obtain prior approval of the...

Written Answers — Department of Finance: Tax Code (31 May 2016)

Michael Noonan: I am advised by the Revenue Commissioners that, in general, taxpayers who are "chargeable persons" under the self-assessment system (for example, individuals who carry on a trade, or have non-PAYE income such as investment income or foreign pensions) are required to submit a tax return and self-assessment to Revenue by 31 October of the year following the tax year in question (or by...

Written Answers — Department of Finance: Tax Collection (31 May 2016)

Michael Noonan: I am advised by Revenue that the matter has been finalised and confirmation has been provided to the Solicitors that the funds in the estate concerned may be released.

Written Answers — Department of Finance: Loan Books Purchasers (31 May 2016)

Michael Noonan: While I have not met with the bank in question in 2016 on these matters, my officials were informed at a meeting in April of the outlines of the bank's deleveraging plans which had been the subject of some public and media commentary at the time. The officials again met with representatives of the bank in the morning of 25 May and were provided with more details...

Written Answers — Department of Finance: Living City Initiative (31 May 2016)

Michael Noonan: Application for the Living City Initiative (LCI) are only required to be made to the relevant local authority under the residential element of the scheme. Applications to local authorities are not required to be made under the commercial element of the scheme and thus it is likely to be early next year before information on this aspect of the scheme will become available.  Based on...