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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

John McGuinness: The Central Bank assumed responsibility for their regulation last April.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

John McGuinness: How many of their offices have the witnesses visited since then?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

John McGuinness: Did Ms Rowland say 35?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

John McGuinness: Is that 70% of the 35?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

John McGuinness: I am asking if it is 70% of these 35-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

John McGuinness: Are those the loans of the 35 vulture funds? Ms Rowland said that 35 vulture funds have registered with the Central Bank.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

John McGuinness: She has said that the Central Bank oversees or has some oversight of 70% of the loans owned by the 35 vulture funds.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

John McGuinness: She is only talking about those 35 entities.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

John McGuinness: I understand that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

John McGuinness: I am even more confused now. There is an address at Victoria Buildings on Haddington Road in Dublin which over 150 vulture funds have registered as their address with the Companies Registration Office. When one turns up to these vulture fund offices, one is meant to be able to access information on the shares register. Some Members of these Houses visited this location at which these 155...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

John McGuinness: I understand that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

John McGuinness: No, I think we are happy with that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

John McGuinness: I am happy with that. I just wanted to use the opportunity here to raise it. I know we are out of time. It is 1 p.m. and we were meant to finish at 12.30 p.m. Members may each ask one further question.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

John McGuinness: In view of the time constraints, if Mr. Makhlouf wishes to give a more detailed note on either of those questions, he should please do so.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

John McGuinness: We do not have time to do it now but I will flag another issue for Mr. Makhlouf, namely, credit unions and the regulation I believe is strangling them. I will send him a number of questions regarding the information he has on the minimum bid rate and how it was applied in terms of contracts in the banks. I presume that he will have numbers on that type of contract, for example, how many...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

John McGuinness: Yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

John McGuinness: We will adjourn proceedings for today. We can set a date for a further meeting, perhaps on 17 December, but that might not work out. We can check it. I thank the Governor and the colleagues who accompanied him for their attendance. I wish the Governor well in his role.

Ceisteanna ar Reachtaíocht a Gealladh - Questions on Promised Legislation (4 Dec 2019)

John McGuinness: I have raised before with the Taoiseach the case of Ger, who is an acute care bed at St. Luke's Hospital at Kilkenny, which is an inappropriate setting, as he has been medically discharged. He has been there since last November. The Taoiseach stated he would examine this but nothing has been done. It is now over 12 months since the case began. This relates to funding for the special...

Ceisteanna ar Reachtaíocht a Gealladh - Questions on Promised Legislation (4 Dec 2019)

John McGuinness: I gave the Taoiseach a note on the case the last time I raised it.

Ceisteanna ar Reachtaíocht a Gealladh - Questions on Promised Legislation (4 Dec 2019)

John McGuinness: There has been no direction.

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