Results 8,521-8,540 of 26,465 for speaker:John McGuinness

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)

John McGuinness: Has the bank looked at debt-for-equity?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)

John McGuinness: I understand it.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)

John McGuinness: As an option, is it not something the bank should look at and develop?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)

John McGuinness: Too complex?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)

John McGuinness: I will come back to Mr. Mason on that. I do not believe it is the case. The banks should look at debt-for-equity as an option. Senator Burke asked about the cost of funds. The same thing happened as in the cost of funds issue and the commercial tracker, it was the same thing with the trackers.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)

John McGuinness: When we looked into how every bank could have done the same thing at the same time the explanation offered to us at our last meeting was that perhaps the reason was that the cost of money had affected the decision of the bank relative to trackers. That explanation was offered by a bank. The tracker issue in terms of the cost of money was the same thing.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)

John McGuinness: I am talking about the cost of funds because I am looking at the cost of funds and the other methodology for calculating the interest. It was down to the same thing. It was the cost that drove Bank of Ireland to change its mind on the trackers and on the commercial mortgages. It is reasonable for a customer to offer that as an argument for being overcharged. That was my point. I will...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)

John McGuinness: Are those who lost their trackers as a result of restructuring included now? I want to cover off something that was said earlier. Are the customers who lost their tracker because their loans were being restructured included?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)

John McGuinness: Both.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)

John McGuinness: If a property was surrendered and that property happened to be on a tracker-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)

John McGuinness: If the property was surrendered, so obviously it was disposed of for some reason, how does that person figure in all of this? The person surrendered the property because they were not able to afford it but the repayments had been increased. They could not sustain the repayments but if they had been back on the tracker they might have done. They have surrendered it now, a voluntary...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)

John McGuinness: Have the witnesses examined the cases the bank is pursuing through the courts to determine if in any of those cases it was a tracker issue that caused all their difficulties?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)

John McGuinness: The bank has identified those customers already for the courts and if it is a tracker issue it is putting a stay on any further action, is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)

John McGuinness: Before you go on to the last question, I will make the following point. Because Deputy Doherty has covered the ground comprehensively, I am not going to repeat the points but I want to support what he has said. A commitment was given at that meeting of 21 September that the emails we referred to would be given to the committee. In the reply on 22 November, Mr. Liam McLoughlin made no...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)

John McGuinness: We have come to the conclusion of our meeting. I want to add again to Mr. Mason that question on commercial trackers. I ask that he would look at that again and give a comprehensive response, particularly in regard to the one case which is an example. He might come back to us. When the various rates were changed from one to the other - from a tracker rate and then back to a variable...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)

John McGuinness: Be careful with the current in those deep waters, Ms McDonagh, when you perform the dive.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)

John McGuinness: I thank the witnesses for their attendance.

Written Answers — Department of Defence: Military Records (30 Jan 2018)

John McGuinness: 126. To ask the Taoiseach and Minister for Defence further to Parliamentary Questions Nos. 527 of 14 November 2017 and 542 of 5 December 2017, the person that issued the certificate of service; the date it was issued; and the timeframe for the certificate to be issued (details supplied). [4023/18]

Written Answers — Department of Children and Youth Affairs: Community Childcare Subvention Programme (30 Jan 2018)

John McGuinness: 556. To ask the Minister for Children and Youth Affairs the reason a person (details supplied) in not being paid on band A of the child care eligibility criteria for their child; and if approval for the proper payment will be expedited. [4021/18]

Written Answers — Department of Employment Affairs and Social Protection: State Pension (Contributory) Eligibility (30 Jan 2018)

John McGuinness: 580. To ask the Minister for Employment Affairs and Social Protection the record of contributions in the case of a person (details supplied); and the reason they are not in receipt of a full State pension (contributory). [4022/18]