Results 5,921-5,940 of 26,439 for speaker:John McGuinness
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
John McGuinness: We will continue with Deputy Michael McGrath, which I think is the best thing to do in order to get as much as we can out of the meeting.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
John McGuinness: The Senator is reading from the transcript.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
John McGuinness: Is it our fault?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
John McGuinness: Yes
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
John McGuinness: Perhaps both parties will check the transcript and the Central Bank will respond further-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
John McGuinness: Is that okay, Senator?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
John McGuinness: We must move on. Three more members have questions. Do the witnesses wish to continue or shall we take a break?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
John McGuinness: In that case I call Deputy Paul Murphy.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
John McGuinness: If the witnesses wish to break at any time, they should let me know.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
John McGuinness: I have a question for the Governor on the tracker issue. I am struggling to understand the paperwork of all the banks. My understanding is that on the very front page of the loan or arrangement, there was to be the information on that date around the amount of the loan, its duration, the number of repayments in the context of the loan and then, presumably, the interest rate and the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
John McGuinness: No, but apart from the tracker, it is a description of the loan. Is there not a single document which can be read in layman's language that a customer can understand the type of loan they have, its duration, etc.? Is that information not there in the document, without having to forensically go through every single page of it?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
John McGuinness: I understand that but I always presumed that there was such a page where the customer would understand the terms of the loan, that is that all the nonsense and the bumf would be cut away and what they were getting on that day would be set out for them. Now the Central Bank is looking at it in the context of what it is doing, which was never envisaged but is happening, one would expect that...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
John McGuinness: Sorry, I would like the representatives to deal with the question, not specifically to do with the tracker investigation but to do with the information that the customer sees on the front page of their contract. Is there no simplified version of all that for the customer as part of their contract on that front page?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
John McGuinness: Did the Central Bank find that page on every single document or contract?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
John McGuinness: But the Central Bank representatives said that it did a forensic examination of the paperwork.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
John McGuinness: I ask Ms Rowland to stick with me on this. Did the Central Bank find that on that paperwork there was a note to the front of the document which set out all these details? Did the banks comply with this or did they not do so?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
John McGuinness: Ms Rowland is going off on a tangent. I want to restate this - on the front page a notice in the form was to be set out which gave all the details that I have just described. I am asking the representatives of the Central Bank if in their examination - they should forget that it related to trackers - where someone in the Central Bank will have seen these contracts, a front page notice was...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
John McGuinness: Why?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
John McGuinness: I am not letting this go, sorry. The Consumer Credit Act 1995 states: "An agreement for a housing loan shall contain on the front page a notice in the form set out in Part II of the Third Schedule of the Act." The form in question includes information on the date the loan was given, including the amount of credit, the period of the agreement, the number of repayments, the amount in euro of...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
John McGuinness: I am asking Ms Rowland if she found that this notice in the form set out in legislation was available on top of every single contract that we are investigating.