Results 7,481-7,500 of 27,945 for speaker:Michael McGrath

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

Michael McGrath: Mr. Makhlouf had a discussion with Senator Conway-Walsh on mortgages but I have repeatedly made the point at this committee and I have made the point directly to the Central Bank about the different treatment of existing customers versus new customers. Most banks have addressed that, although not all banks have. Some continue to charge existing customers higher interest rates. There is the...

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

Michael McGrath: I would like to hear the Governor address this issue.

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

Michael McGrath: Yes, it is, and there should be much more switching. Equally, the Central Bank tolerates certain banks charging their existing, loyal customers more than they charge a new customer. One might say that is common in business, as it is in the case of electricity and other utility services, but it is the largest transaction that most people will ever enter into. While one can blame the...

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

Michael McGrath: I accept that the issue of mortgage pricing and risk-weighted assets is technical and do not propose we go into it in detail. Is there ongoing engagement between the Central Bank and the SSM on the detail of the regulations and on whether they are proportional? The amount of capital that must be put aside for a mortgage issued today has been heavily influenced by what happened ten years...

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

Michael McGrath: I turn to investment by banks in technology. There have been a number of outages or glitches in bank systems in recent months, and they have happened frequently in recent years. It causes severe disruption to the system and to individual consumers, and there can be reputational damage to the banks and the system. It can also have an economic impact, depending on how long it lasts. Do the...

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

Michael McGrath: They happen an awful lot, and my question is whether the banks do enough to deal with them.

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

Michael McGrath: The Central Bank regularly issues statements and warnings about unauthorised firms. What is the work out from them, that is, the end product and sanctions? Such firms can cause great harm to the consumer if they are not regulated or do not conduct their business properly. I have struggled to learn, either through the Courts Service or the Central Bank, the outcome of these warnings. Are...

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

Michael McGrath: What big stick has the Central Bank?

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

Michael McGrath: Are there convictions?

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

Michael McGrath: On the issue of the portfolio loan sales, is the Central Bank supportive of ethical funds buying the portfolios? I refer to funds that specialise in mortgage-to-rent arrangements that would allow the current homeowner to stay in the home as a tenant as opposed to a mortgage holder. What is the Central Bank's view on loans being sold to such funds as opposed to so-called vulture funds? On...

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

Michael McGrath: Has Mr. Sibley data he could share with the committee on the curing mechanisms of non-bank lenders that have acquired the loans? We have seen some data but they do not distinguish between arrangements that have been inherited by the funds, or entered into by the bank before the loan was sold. I am most interested in what happens when those arrangements expire. Is there any data on new...

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

Michael McGrath: Could the committee be sent a note on the data and consequences following the issuing of a public notice by the Central Bank of a warning about an unauthorised firm?

Written Answers — Department of Jobs, Enterprise and Innovation: Pharmaceutical Sector (3 Dec 2019)

Michael McGrath: 60. To ask the Minister for Jobs, Enterprise and Innovation if her Department has examined whether Ireland is approaching a patent cliff specifically in the pharmaceutical industry (details supplied); and if she will make a statement on the matter. [46674/19]

Written Answers — Department of Finance: Pensions Reform (3 Dec 2019)

Michael McGrath: 120. To ask the Minister for Finance his plans to change the age threshold of 75 years to approved minimum retirement funds; and if he will make a statement on the matter. [49741/19]

Written Answers — Department of Finance: Vehicle Registration (3 Dec 2019)

Michael McGrath: 122. To ask the Minister for Finance if he will assist a person (details supplied) in County Cork to resolve a VRT issue that has arisen concerning an imported vehicle; and if he will make a statement on the matter. [49739/19]

Written Answers — Department of Public Expenditure and Reform: Superannuation Schemes (3 Dec 2019)

Michael McGrath: 148. To ask the Minister for Public Expenditure and Reform if a matter raised in correspondence by a person (details supplied) in County Cork in relation to superannuation pensions policy will be addressed; and if he will make a statement on the matter. [49802/19]

Written Answers — Department of Public Expenditure and Reform: Ministerial Transport (3 Dec 2019)

Michael McGrath: 156. To ask the Minister for Public Expenditure and Reform the members of the Thirty-second Dáil Éireann and Twenty-fifth Seanad Éireann that have drivers paid for by the Exchequer in each year since 2016, in tabular form; the number of drivers employed for this purpose; the salary costs; the amount claimed by way of mileage by the member concerned in circumstances in which...

Written Answers — Department of Education and Skills: Schools Establishment (3 Dec 2019)

Michael McGrath: 196. To ask the Minister for Education and Skills the reason the catchment area of the planned new primary school in Carrigaline, County Cork for 2020 excludes Crosshaven and its hinterland from the area; if he will review the issue with his officials; and if he will make a statement on the matter. [49853/19]

Written Answers — Department of Education and Skills: Emergency Works Scheme Funding (3 Dec 2019)

Michael McGrath: 202. To ask the Minister for Education and Skills if an application for funding by a primary school (details supplied) in County Cork will be supported; and if he will make a statement on the matter. [49882/19]

Written Answers — Department of Health: Pharmacy Services (3 Dec 2019)

Michael McGrath: 342. To ask the Minister for Health the reason further cuts are being imposed on the fees paid to pharmacists; if he will review the proposal;; and if he will make a statement on the matter. [49796/19]