Results 461-480 of 3,523 for speaker:Lucinda Creighton

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: AIB (13 Nov 2014)

Lucinda Creighton: Would the bank consider some sort of independent entity for SME debt along the lines of the IMHO? I appreciate that advice is offered by the bank, but sometimes there needs to be an interlocutor.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: AIB (13 Nov 2014)

Lucinda Creighton: I know that others have raised the issue of variable-rate mortgages. Was it common during the boom years to include a clause in the mortgage that linked the change in interest rates of the mortgage to market conditions? This issue has been raised in the courts in recent times and I am curious as to whether it applies to AIB.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: AIB (13 Nov 2014)

Lucinda Creighton: I am asking what the standard clause in a mortgage would be. Is there anything that explains why mortgage interest rates would go up or down?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: AIB (13 Nov 2014)

Lucinda Creighton: I welcome the witnesses and thank them for the answers they have given both in writing and orally. I will start by echoing Senator Barrett's view on the Central Bank's new mortgage deposit and loan-to-earnings ratios, how crucial these standards are, how they can insulate us against future boom-bust cycles, and the need for the banks - not only AIB but those right across the sector - to get...

Written Answers — Department of Defence: Defence Forces Deployment (13 Nov 2014)

Lucinda Creighton: 20. To ask the Minister for Defence his views that the triple lock system is still a suitable mechanism to determine our peacekeeping operations in view of the dysfunctional nature of the UN Security Council; his plans to ensure Ireland has greater level of control on our peacekeeping missions; and if he will make a statement on the matter. [41254/14]

Written Answers — Department of Education and Skills: Value for Money Reviews (13 Nov 2014)

Lucinda Creighton: 204. To ask the Minister for Education and Skills further to Parliamentary Question No. 215 of 6 November 2014, if she will detail the person who was the independent external chairperson; if she will confirm whether this was a remunerated position; the way that person was appointed; if she will provide an estimated deadline for when the referred considerations will have been finalised;...

Written Answers — Department of Environment, Community and Local Government: Water Services Provision (13 Nov 2014)

Lucinda Creighton: 234. To ask the Minister for Environment, Community and Local Government further to Parliamentary Questions No. 239 and 240 of 6 November 2014, if he will list all members of the steering group for the water sector reform programme; the way these members were appointed; and if he will make a statement on the matter. [43679/14]

Written Answers — Department of Environment, Community and Local Government: Irish Water Staff (13 Nov 2014)

Lucinda Creighton: 235. To ask the Minister for Environment, Community and Local Government further to Parliamentary Questions Nos 239 and 240 of 6 November 2014, if he will clarify that anything to do with the mechanics of the pay progression was never raised with his Department and there exists no advice or files referring to the model to be adopted; if he will confirm who is legally responsible for...

Written Answers — Department of Environment, Community and Local Government: Irish Water Appointments (13 Nov 2014)

Lucinda Creighton: 236. To ask the Minister for Environment, Community and Local Government if he will detail the process of appointment for the Irish Water consultative group; if he will publish the final recommendations of this group; and if he will make a statement on the matter. [43681/14]

Written Answers — Department of Communications, Energy and Natural Resources: Irish Water Staff (13 Nov 2014)

Lucinda Creighton: 242. To ask the Minister for Communications, Energy and Natural Resources further to Parliamentary Question No. 691 of 6 November 2014, the precise date, according to records available, when his officials would have been first updated on the pay progression mechanism as part of the update they received with respect to progress with regard to the cost improvement measures in the lead in to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Lucinda Creighton: I apologise for coming to the meeting late. I have a couple of questions to ask in the light of recent court cases on variable mortgage rates. Was it commonplace between 2002 and 2003, for example, and in 2008 to include a mortgage clause linking a rise in interest rates and market conditions? Was this standard practice in the bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Lucinda Creighton: Essentially, the question is whether it was commonplace to include a clause in variable mortgages linking changes in interest rates with market conditions.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Lucinda Creighton: Would anything in the clause have suggested any logical reason for an increase in the mortgage interest rate?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Lucinda Creighton: It could happen without a reference point and at the whim of the bank.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Lucinda Creighton: I am well aware of that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Lucinda Creighton: Many other banks include a link with market conditions. My point is that given the huge influence of the Central Bank and the European Central Bank in recent years, the increase seems extraordinary. I wonder how the bank can justify the increase in the interest rate for variable rate mortgage holders at a time when the Central Bank’s rate was and is running at almost zero. It is a...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Lucinda Creighton: In that context, I am curious to hear some detail, as I have not been able to find the information in the presentation. I have noted in the presentation that the variable rate mortgages are worth €7 billion, but I cannot find the equivalent figure for tracker mortgages. I am curious to hear what the balance is.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Lucinda Creighton: I am curious to learn what percentage of overall income in the past five years has been generated from variable rate mortgages for owner-occupiers.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Lucinda Creighton: I appreciate all of these variables, but my concern is not just for PTSB, it extends to banks right across the board. Ultimately what has happened in recent years is that variable rate mortgage holders are paying the price for the favourable rates given to tracker mortgages. That is beyond dispute as one can see in every single bank. Is the Central Bank involving itself in trying to...

Order of Business (11 Nov 2014)

Lucinda Creighton: How long does the Taoiseach anticipate it will take for section 45 of the Finance (No. 2) Act 2013 to be commenced? The European Commission must approve State aid and negotiations seem to be extremely protracted. The section will allow for the granting of CGT relief for entrepreneurs. The provision was lauded in the budget last year but it has not been introduced. Further measures were...