Results 9,181-9,200 of 32,572 for speaker:Paschal Donohoe

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: Section 10 of the Act does, I believe, lay down criteria regarding the operation of banks in Ireland, but it does not constrain those banks from making commercial decisions regarding their future and operations. That is what has happened in the case of NatWest Bank. On the Deputy's second question, there is nothing to stop any individual credit union making money available for a loan for...

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: I will follow up on the point the Deputy put to me regarding the use of buildings owned by Bank of Ireland. I understand, however, that more of these buildings are leased than we might initially think. The Deputy makes a practical suggestion that I will be glad to follow up and get back to him on. The Deputy also asked about setting capital reserve requirements for banks and credit unions....

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: There are no likely retail entrants into the Irish banking sector in the immediate future; none. The possibility that this may change in the medium term exists. It may change as the banking sector overall regains a degree of profitability but there are no large European or global retail banks considering moving into Ireland in the immediate future. We have had a bank leave Ireland and I am...

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: In the aftermath of the decision by Bank of Ireland, a major opportunity has been announced for post offices to go into partnership with Bank of Ireland to try to develop services. I am not sure if the Deputy was aware of that but it is pertinent to the point he is making. The Deputy asked if I have plans to set up a new public bank. Is the Deputy aware of the work of the Strategic Banking...

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: Deputy Naughten made the point that we should have a State body that provides unsecured loans at a low interest rate. That illustrates the difficulty with such a State body. I have not received such correspondence yet from Mr. McRedmond. I will check to see where it is and I will respond. An Post is moving into a new partnership with Bank of Ireland. With respect to Deputy Naughten, the...

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: Deputy O'Sullivan raises an important point. In some lending schemes that we have put in place, the amount of capital we made available has been fully drawn down. Some other schemes, which Deputy O'Sullivan may well be referring to, have not seen the same demand. We will have to examine whether there is a case to reallocate that funding, what we can learn from schemes that have gone well,...

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: That is relevant to the question the Deputy put to me.

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: I listened to what Deputy Mac Lochlainn said. I was very much aware of this issue when I was Minister for Public Expenditure and Reform and of the significant difficulty many families faced as a result of dealing with the awful effect of mica on the structure of their family home. In truth, I was not aware of the issues the Deputy just raised with me, so I will have to check the...

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: I am not sure I fully understand the point the Deputy is making. In truth, I do not follow his point. Is he referring to the value of the properties that have been affected by mica and have a mortgage on them? If he could perhaps explain it to me again, I will respond.

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: There is a little over a minute left in the Government speaking slot. May I make two points in response to the issues that have been raised?

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: I note, in particular, the points that were made by Deputies Calleary and O'Callaghan. They raised the question of the seriousness of what it means for Ulster Bank to leave Ireland. I want to offer one key point for speakers to reflect on. Many here this evening are being critical of decisions that have been made by some banks as they look to make profit, or make profit in the future. At...

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: I thank the Deputy for the different questions she has put to me. I was struck by what Deputy Shortall said. She said that nothing has changed. What has changed is that we have an independent regulator with strong powers at its disposal and a significant resource. It views these issues seriously, as evidenced by the statement made yesterday. If we wanted to see a signal of a different...

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: Far be it for me to decide whether that is a point of order. The Leas Cheann-Comhairle might give a ruling on that. I am answering the questions. Before Deputy Shortall decided whether I had answered them, she should have allowed me to conclude what I was saying because it was really important. On the basis of what she said, I think Deputy Shortall bemoaned the lack of an independent...

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: I believe we have a strong regulatory system in Ireland. We have a regulator that has demonstrated its ability to manage a complex financial sector in a way that looks to protect the safety of our economy and respect the need for the customers and those who depend upon the sector to be treated in a way that is fair. I believe we have a strong regulatory system here. Deputy Richmond went...

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: I will conclude by emphasising the seriousness of the departure of Ulster Bank from our economy. We need to reflect on what that will mean for the structure of banking in our country in the years to come.

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: I thank Deputy Nash for the questions. I will deal with each of them in turn, starting with the substantive questions about the investigation the Central Bank has carried out. The Deputy asked me what evidence it has and if I am aware if it is carrying out investigations of other companies. He knows that I cannot comment on the nature of investigations carried out by an independent...

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: The reason I gave my agreement for the Goodbody transaction to take place is that I believe the sale by Fexco of Goodbody is good for a really important company in our country, particularly a very large employer which is facing many challenges at the moment. I believe it can help AIB respond to the challenges I have referred to. I believe a stable owner for Goodbody will be important for...

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: I thank Deputy Doherty for raising an array of very important matters. In the time that is available to me I will make a point about each of them. First, he asked about the larger role PTSB may play within Irish banking in the aftermath of Ulster Bank leaving. My Department has engagement with PTSB and if it is commercially viable and makes sense for the shareholder, which is in this case...

Banking Sector: Statements (3 Mar 2021)

Paschal Donohoe: I am sharing time with the Minister of State, Deputy Fleming. I welcome the opportunity to make a statement on banking matters. This debate is both timely and needed because in the past fortnight, there have been three major announcements from our banks that have major consequences for our citizens and speak to the challenges that the banking industry, along with the country in general, is...

Written Answers — Department of Communications, Climate Action and Environment: Energy Efficiency (3 Mar 2021)

Paschal Donohoe: The Help to Buy (HTB) incentive, is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. It also has as a key aim the encouragement of additional supply of new houses by supporting demand. The incentive gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous four years, subject to limits...