Results 7,421-7,440 of 26,711 for speaker:John McGuinness
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: Can the Central Bank do anything with banks that are selling on these loans that have been partly warehoused? Can it do anything to make its view known that the banks cannot claim these are non-performing loans because they are, in fact, a solution within the bank?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: No, it is focused on all of them. They are all at it in one shape or form.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: He is not like that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: The witnesses have given an answer which is neither here nor there. I prefer the answer that was given by the representatives from the European Central Bank when they came before the committee recently to discuss the SSM. Danièle Nouy said it is not yet the right time to consider changing the current salary or bonus rules in place for Irish banks. That is pretty clear. I certainly...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: I do not know whether Governor Lane or Mr. Sibley have answered the question. I do not know whether they are clued into this at all. Let me explain. I understand what the banks have been doing. On a macro level, they have their big customers. They have worked hard going down to the very smallest of loans so they are almost down to that level now where they have a huge number of loans...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: Is the ICB finished, in that case?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: Will Professor Lane address the issue of small business owners not being able to get loans, and the credit union option being closed off to them as well? Is there not an argument for easing the regulation of credit unions in this area? They grew small businesses in their day because they knew the individuals and the risk better than most. Now they are virtually the only financial...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: Can credit unions do mortgages now?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: With total freedom.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: On the earlier question, what did Mr. Sibley say about credit unions' ability to lend to someone who they know went through a bad time but is now less risk?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: Is it still the case that the lender, whether a credit union or not, makes the choice?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: It is not penalised in any way should the choice be to support the particular business or individual.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: It will look at the register and see that. It understands the difference in the current state of play and, on the basis of that, it will give the loan.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: I call Deputy Michael McGrath.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: That issue was generally dealt with, unless the Deputy wants-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: We are going to have a forum very shortly into which the Central Bank may also have an input.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: I asked about the Irish Credit Bureau, ICB, and there is a point that I wish to clarify. When banks are asked about loans, they must have regard only to an ICB rating as there is no regulation stating that a person may not be granted a loan if he or she has a poor ICB credit rating. For how long do banks refuse to lend to a person who had a poor ICB rating? I have been told it lasts for...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: For how long does a refusal to lend to a person who had a poor rating last?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: That is one aspect of the matter. A negative credit history is on record and will remain there until it is cleared by the banks. However, a person may still be considered a credit risk three years after their negative rating is cleared. What regulation is in place in that respect?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)
John McGuinness: In answer to Deputy Michael McGrath, Professor Lane stated that the fact that there are higher interest rates does not mean that a bank, possibly an outside bank coming into the market, would ignore future potential in favour of what prevails in the marketplace. The same should apply to business people or individuals who went through difficulty. They should not always have to pay for that...