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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

John McGuinness: The Sparkassen foundation is just advising Irish Rural Link on this matter.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

John McGuinness: There is no application directly to the Central Bank. Had Irish Rural Link had meetings with it?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

John McGuinness: Separate to the bank and Irish Rural Link, Mr. Maye has an interest in the concept of public banking.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

John McGuinness: Would Mr. Maye like to make a short statement before we continue?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

John McGuinness: Could you clarify that answer? What if I went into your bank in Germany for a mortgage?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

John McGuinness: Let us suppose I wanted to set my tracker mortgage for ten years. What would the interest rate be?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

John McGuinness: When can you open the banks?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

John McGuinness: Yes, but you must be competing with other banks. Is that the case?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

John McGuinness: Are they offering the same rate of 1.1%?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

John McGuinness: Dublin and Tipperary have yet to come in.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

John McGuinness: Is Senator Burke finished?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

John McGuinness: We give participants plenty of time.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

John McGuinness: I am sure his language skills and presentation have impressed our visitors and members. I call Deputy Kelly.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

John McGuinness: Does it have anything to do with the lady sitting beside Mr. Boland?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

John McGuinness: Does Mr. Bergmann want to answer some of the questions?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

John McGuinness: On the suggestion made by Deputy Kelly about the report, with the agreement of the committee, we can ask the Department of Finance about the current position on that report and ask it to send us a draft copy. As stakeholders, because the committee will be dealing with it, we could ask where it stands now. We could then debate it and perhaps add some speed to the process and bring it to some...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

John McGuinness: I do not know if Ms Dooley wishes to contribute. She is the only female here among all the suits talking about banks. Is there something she would like to see?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

John McGuinness: I am grateful to the Members who are not members of the committee but who are here because they add weight to the argument and the case being put forward. I encourage the Government parties, and I say this in a cross-party sense, to encourage the Minister to look favourably on that report and to include this committee in its consideration of the outcome of the report so that we can debate it.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

John McGuinness: We have dealt extensively with the last question. Do the witnesses want to answer the other two questions?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Savings Banks Foundation for International Cooperation, Irish Rural Link and Public Banking Forum of Ireland (12 Oct 2017)

John McGuinness: I thank the delegates, particularly our guests from Germany, for attending and for their contributions. I wish them well. We will certainly put on pressure from our end to ensure we have the report, debate it and move on the agenda.

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