Results 5,581-5,600 of 26,465 for speaker:John McGuinness
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)
John McGuinness: What about the performing loans? Has Ulster Bank Ireland sold performing loans in this bundle since 2015?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)
John McGuinness: So if there is a net non-performing loan comprising other loans, such as a buy to let-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)
John McGuinness: -----that is a non-performing position generally.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)
John McGuinness: Ulster Bank Ireland does not separate them out.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)
John McGuinness: What about separating out the bad loans and selling those to allow the customer some form of chance to continue with the performing elements of the loan?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)
John McGuinness: Does Ulster Bank Ireland go to the extent of separating out the bad loans if that is possible? Does Ulster Bank Ireland sell them on and allow the-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)
John McGuinness: So Ulster Bank Ireland just sold them on.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)
John McGuinness: Would Ulster Bank Ireland not try to unravel that package?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)
John McGuinness: Yes, but Ulster Bank Ireland could separate out the performing elements of that and allow the customer to work with the bank on those and then sell on the other parts of that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)
John McGuinness: So Ulster Bank Ireland is packaging the loans in an overall non-performing loan to suit the vulture funds.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)
John McGuinness: Yes, but Ulster Bank Ireland is packaging them for the vultures.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)
John McGuinness: I understand that but these are exceptional circumstances where Ulster Bank Ireland is about to sell loans, some of which are performing, and I am asking that in that instance, why not structure it in such a way that Ulster Bank Ireland allows the customer the chance of continuing on in the performing elements of his or her loan?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)
John McGuinness: I know they are buy to let categories but at the same time, there are families involved here and that is what I am thinking of. That is the difference between Ulster Bank Ireland and I. I am trying to establish what lengths Ulster Bank Ireland goes to in order to facilitate a family in a buy to let or in a private house to stay in that house.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)
John McGuinness: These figures would not suggest that. They are significant figures.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)
John McGuinness: It is also reflective of bad banking.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)
John McGuinness: Bad banking.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)
John McGuinness: Ulster Bank Ireland will not even call it the way it is. That is where my concern is with all this.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)
John McGuinness: No, the crash came first before the economy went down and Ulster Bank Ireland's bad banking decisions came before it turned down.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)
John McGuinness: I would argue that the banks caused it.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Ulster Bank (9 May 2019)
John McGuinness: They were careless and bad banking decisions.