Results 7,081-7,100 of 26,465 for speaker:John McGuinness

Written Answers — Department of Housing, Planning, and Local Government: Social and Affordable Housing Provision (16 Oct 2018)

John McGuinness: 662. To ask the Minister for Housing, Planning, and Local Government if he will provide information (details supplied) on the 10,000 affordable houses planned for 2019; and if he will make a statement on the matter. [42258/18]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (11 Oct 2018)

John McGuinness: We are dealing with No. 9, scrutiny of the public record. Earlier we dealt with schedule B items for COM (2018) 357, COM (2018) 444, COM (2018) 486, COM (2018) 509, COM (2018) 535, COM (2018) 539, COM (2018) 599 and COM (2018) 605. The decision of the committee was that these do not warrant further scrutiny. Full details will be published on our website.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: I welcome Mr. Masding and his colleagues. I wish to advise them that by virtue of section 17(2)(l) of the Defamation Act 2009, witnesses are protected by absolute privilege in respect of their evidence to the committee. However, if they are directed by the committee to cease giving evidence on a particular matter and they continue to so do, they are entitled thereafter only to a qualified...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: The Deputy can briefly.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: I understand but the others had very big statements as well and they all got 20 minutes. The Deputy can ask just one more question then we will take with Senator O'Donnell.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: I thank Mr. Masding.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: Mr. Masding opened up his remarks by saying he is following the rules and directions of the bank's regulator. This was covered to a degree by Senator Kieran O'Donnell and I want to focus on the wording Mr. Masding used. He said that the direction from the regulators was very clear, that the bank must reduce the ratio of non-performing loans on its balance sheet to the European average,...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: Where did the Central Bank or the European Central Bank tell the bank that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: They have never said to the bank that it has to reduce them within a certain timeframe to 3.5%.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: No, do not give me ifs.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: That is not the question. The question is when the regulators told Mr. Masding. When did they say he must have that ratio down to 3.5%?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: The ECB, the Irish Central Bank and the SSM gave the bank no such instruction and they have confirmed that to a delegation that attended. It is wrong for Mr. Masding to give the impression in his statement that he is acting under the cosh of these three different organisations. They never said it to him and they have confirmed that to us. To move along to the 13,800 homes-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: I want to clarify that for Mr. Masding. He asked me a question. It is in the first paragraph of his opening statement. At no stage did any of the three organisations I have mentioned ever tell Mr. Masding directly what to do in his bank relative to the 3.5% or how he could achieve it. That is the first point. The next point is that he complimented the 13,800 homes that have been...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: He goes on to make another comment that is accurate in part but is also inaccurate. He said that the protections follow the loan and that these vulture funds have to acknowledge the protocols that are in place. He knows damn well that is not the case. He knows the reality is that once a person's loan is transferred to a vulture fund, he or she is in trouble. That is not inflammatory or...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: PTSB has 2,500 cases before the courts, some of which we know involve people who are engaging with the bank. PTSB has sold on all of these loans and it is pursuing 2,500 cases through the courts.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: Even though PTSB has chased 2,500 individuals through the courts, justice is not going to happen for those 2,500 customers, not with PTSB because it has sold them on to the vulture funds. Does Mr. O'Sullivan think the vulture funds will remove these 2,500 cases from the courts and restructure the loans? The witnesses appear to think that the funds are a generous lot and that they do deals....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: Do not mind what anyone else said and answer my question.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: PTSB was in the shoes, but has tossed them away. When PTSB was challenging 2,500 homeowners around the country, that was the time to address it. What it is now doing is outsourcing its dirty work to a vulture fund. It is ignoring the possibility of working individually with the people we are speaking about. That is essentially what Mr. Masding's response means. It is cold comfort for the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: Is Mr. Sullivan saying PTSB did so in respect of each of the 2,500 cases?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)

John McGuinness: Do these loans form part of the 2,500?