Results 8,861-8,880 of 26,733 for speaker:John McGuinness
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
John McGuinness: I want to ask in specific terms about AIB. Is this not AIB plc and then AIB, plc?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
John McGuinness: The bank only has two banking licences and that comma is the only difference between both of them, excepting the fact they are two very separate entities. When a person goes to a court and begins to explain publicly that his or her loan was with AIB, plc, the courts can often believe that the person is tricking around with the title but in fact it is quite a significant and fundamental...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
John McGuinness: That is okay. The other issue on the vulture funds is that the responsibility and the obligation conditions of the original loan travel with the loan wherever it goes.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
John McGuinness: Concern has been raised at this committee, particularly from the small and medium-sized enterprise, SME, sector, about restructuring units within AIB and Ulster Bank. The unit in Ulster Bank came into focus first. Some loans that were sold on were performing loans. It has been found that the loans are now mixed up under the name of one particular fund. There may be a number of portfolios...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
John McGuinness: Yes.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
John McGuinness: When the Central Bank-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
John McGuinness: The Central Bank observes the market and the activities within that market - good and bad. When the Central Bank is asked whether it wants more powers, would it say to the Minister that from a consumer protection aspect, perhaps the Government should look at having an ombudsman or a role for the Central Bank to play in protecting SMEs that have a turnover value up to €50 million?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
John McGuinness: Could the Central Bank offer that advice to this committee?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
John McGuinness: With regard to the proposed Irish banking standards board, which was raised earlier on, what do the witnesses believe the make-up of the board would be? Have the witnesses been asked about the make up of that board?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
John McGuinness: Yes, to ensure that it is not just window-dressing.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
John McGuinness: What about their independent appeals board as regards trackers? Is Professor Lane satisfied that the boards or systems are independent?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
John McGuinness: For clarification, it was stated that the Central Bank had said there was some degree of satisfaction with those agencies.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
John McGuinness: I want to make it clear that I earlier went through this issue with the witnesses and I am not satisfied------
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
John McGuinness: That is okay. The Central Bank needs to remind these credit servicing agents of their obligations and responsibilities to the Oireachtas. The formal complaint that I have made to the Central Bank through the committee indicates that these companies are using strong-arm tactics with individuals and Members of the Oireachtas have complained to me about them. I expect that, in line with what...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
John McGuinness: They are horrendous.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
John McGuinness: It might also include the Central Bank examining the recent report published by this committee on the credit union sector. The witnesses might let us have their views on the report and on community banking. If the bigger operators, the commercial banks, are not going to service local communities in the way a Sparkassen bank does in Germany, perhaps the time has come for the Central Bank to...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
John McGuinness: As part of that conversation, perhaps Mr. Sibley would write to us about the Central Bank's views on the report.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
John McGuinness: We are having a round-table discussion with all the stakeholders about community banking and credit unions to see if we can further the establishment of community banking in Ireland. In that regard, it would be interesting to have a discussion with Mr. Sibley and the registrar.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
John McGuinness: I will come back to Mr. Sibley on that. I call Senator Kieran O'Donnell.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)
John McGuinness: I have just a few questions. The Central Bank identified 900 cases that related to AIB. There was an issue around the 900 cases that AIB did not accept but the Central Bank had deemed to be impacted. Is that correct?