Results 741-760 of 4,491 for speaker:John Perry

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: That is a critically important point. The sole purpose of the fund is to assist in restructuring of the credit unions. What is the interest charge on repayments?

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: What is the duration of the loans? Are loans available on a long-term basis?

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: Is it possible to get a loan repayable over 20 years?

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: In terms of loan repayments and the interest charged thereon, there will be a very good return on investment. Credit unions will also probably be charging their customers an additional percentage per month.

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: In terms of the resolution of the fund, is Mr. Doyle not disappointed with regard to the outcry of recapitalisation of banks and credit unions in the context of the availability of credit? There is no point having this fund in place if it is not drawn on. Are further measures needed to ensure greater flexibility to enable credit unions to avail of it in order to recapitalise themselves?

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: Both.

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: That may be the case but it is at the expense of the provision of loans to people wishing to undertake home improvements and so on under the home renovation incentive. In a city like Dublin, the economy of scale is far larger than it is in a small community area. It is important there is recognition and definition of the urban-rural situation vis-á-visthe credit unions. Given that...

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: What is the projected draw down from the fund by end 2015?

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: Has the board put together a business plan in respect of the amount it expects to draw down?

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: Would it be possible to the details in that regard to the Chairman?

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: I mention the re-emergence of the economy and the fact we are all hearing about restructuring. This is going on since 2011. Many credit unions need assistance. A fund was set up and the primary focus was to reignite business and reorganise small companies. There is a very good example in Kilkenny, where businesses are funded. We have the microfinance fund and the State guarantees up to...

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: Regardless of the State-----

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: I have heard from the voluntary component and the community economic regeneration and social enterprise, which are very important in every community. We fully respect that. We are paying a huge price for that in terms of inaction. That is no compensation. There are 200,000 companies employing 700,000 people. We have had a total transformation of the banking circle, whether branches being...

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: I have seen it.

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: On that point, we know the demographics of the region, we know where credit unions are and we know of mergers that could never happen. All of that was well known before this fund was well established. This does not answer the question because we know only too well that the fund given by Government is very similar to the microfinance fund for small companies. Ten reasons were given as to...

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: Is Mr. Doyle telling me that the terms and conditions attaching to this fund, established in 2011, were only agreed two and half weeks ago? Is that correct?

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: I welcome the former Senator, Mr. Joe O'Toole. I am fully aware it has to be repaid. There is no free lunch anywhere but the fact the conditions of the fund, which was announced three and a half years ago, were only agreed two weeks ago is a major-----

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: Would Mr. O'Toole not agree that fact should have been put in the public domain from the very start? Questions have been asked in the Dáil as to what is happening to this fund and about its inability to operate. Situations of that nature should be put on the record as should the caveat and the restrictions in using this fund rather than saying it will close in 2015 and that none of the...

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: What is the current value of the fund?

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: I am amazed that although the fund was established in 2011, only €3.5 million has been drawn down. I have been told the fund is to finish by 2015. I have listened attentively to all the questions asked. How does the board expect to clear the fund by 2015? The cumulative operational costs would be approximately €1.3 million on a distribution of €3.5 million, which...