Results 861-880 of 11,861 for speaker:Brian Hayes
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Brian Hayes: The information remains on the register.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Brian Hayes: My understanding is that in the original draft there was a mistake.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Brian Hayes: This captures it.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Brian Hayes: Was the Deputy trying to be polite?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Brian Hayes: That is a first.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Brian Hayes: My understanding is that if a mortgage is restructured, that information will be given to the register and the performance will be reflected in it. There is no suggestion the information will not be captured.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Brian Hayes: It will be updated. If one restructures, it will take account of one's new position. If it is performing under the restructuring arrangement, that information will be captured.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Brian Hayes: We might seek clarity from the Central Bank on it in advance of Report Stage, if it needs to be clarified-----
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Brian Hayes: -----but our understanding is that there is information capture. In a sense, it is not real-time information. It applies to a two-year period. If what Deputy Pearse Doherty is trying to achieve, with which we agree, requires a further definition, we will look at the issue. We will get the view of the bank in advance of Report Stage.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Brian Hayes: The credit score is a moving target. As it is restructured the score changes.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Brian Hayes: I understand the performance date applies for five years and as it comes to a conclusion it comes off the register. I understand the arrangement is 5-4-3-2-1.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Brian Hayes: The Deputy's concern is that the loan will remain on record for longer than five years.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Brian Hayes: The original section 8, before amendment No. 29 was proposed?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Brian Hayes: I understand the Deputy's point, but am not sure about its substance.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Brian Hayes: If the loans are paid off, they are paid off.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Brian Hayes: I would have thought that was good-quality information. The loan has been paid, the liability has been discharged and that information is provided.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Brian Hayes: For certainty and clarity. Is the Deputy satisfied?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Brian Hayes: The information is for the bank. We all want the quality of information throughout the system to be consistent. One of the reasons we are in the hole we are in is a lack of information. This arrangement would give us consistency across the entire scheme but in no way would it have any negative implication either for the person who has discharged liability for the original loan or for the...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Brian Hayes: I may be able to help the Deputy understand the bigger thing we are trying to achieve if I return to the point raised by Deputy Dooley. The credit score is the key issue here. As I stated, this is giving us the legal basis to produce the credit score. The Deputy made a valid point when he stated that the scheme of the credit score was not contained in the legislation. Obviously, it will...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)
Brian Hayes: I move amendment No. 16: In page 8, subsection (1)(g), line 35, to delete "a business" and substitute "other activities".