Results 9,241-9,260 of 16,537 for speaker:Brian Lenihan Jnr
- Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)
Brian Lenihan Jnr: With regard to the powers of the Financial Regulator, there are extensive powers in the scheme.
- Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)
Brian Lenihan Jnr: A number of powers to patrol business practices are laid out in the scheme. I have the power to withhold approval from the covered institutions to acquire shares in other financial institutions and to prohibit them from establishing subsidiaries or entering into new businesses, if I believe that is appropriate. I also have the power to set rules governing the declaration and payment of...
- Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)
Brian Lenihan Jnr: That is, in fact, part of an initiative of mine to ensure that we proceed more rapidly than we have with our national payments strategy.
- Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)
Brian Lenihan Jnr: The Department of Finance commissioned research into financial exclusion in Ireland in 2005. The resulting report, entitled Financial Exclusion in Ireland: an exploratory study and policy review, estimated that approximately 11% of the Irish population was unbanked. Those who were over 65, retired or unemployed were most likely to be unbanked. Within this 11% it was estimated that 3% were...
- Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)
Brian Lenihan Jnr: I was asked a number of questions about how we are going to promote a sense of corporate responsibility.
- Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)
Brian Lenihan Jnr: On the issues of financial education and social financeââ
- Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)
Brian Lenihan Jnr: If the Deputies do not want me to put this information on the record of the House, I will desist from doing so.
- Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)
Brian Lenihan Jnr: The Deputies did not allow me to finish.
- Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)
Brian Lenihan Jnr: Like other Members, Deputy O'Donnell is anxious to discuss recapitalisation of banks.
- Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)
Brian Lenihan Jnr: The charge is under discussion today and is in the scheme.
- Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)
Brian Lenihan Jnr: Recapitalisation is not in the scheme. If there were any question on recapitalisation I would immediately approach the Opposition spokespersons and brief them on it. I remind the House that last week the chief executives of a particular British financial institution were observed entering No. 10 Downing Street and it was suggested that the visit was about the capitalisation of the...
- Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)
Brian Lenihan Jnr: I am sorry but I am in possession.
- Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)
Brian Lenihan Jnr: There is a commitment in the scheme to a six-monthly report and on foot of the report the Minister can be questioned by the Joint Committee on Finance and the Public Service.
- Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)
Brian Lenihan Jnr: Deputy Creed asked about a sunset clause and the scheme has one.
- Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)
Brian Lenihan Jnr: It cannot be extended.
- Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)
Brian Lenihan Jnr: The scheme will end in two years' time and it cannot be extended. Deputy Creed asked about a sunset clause and this is the sunset for the scheme. The Government gave a letter to the relevant institutions on 30 September and this letter was reflected in legislation and in this scheme. The terms of the scheme have been cleared with the European Commission. It arose from a danger which had...
- Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)
Brian Lenihan Jnr: Very few people can understand what it means. Even the European Commission does not understand what it means.
- Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)
Brian Lenihan Jnr: There have been a large number of questions.
- Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)
Brian Lenihan Jnr: I indicated earlier I would be interested in the views of the House on the appropriate type of person to appoint to the public interest panel. Deputy Pat Rabbitte is correct that their duty will be to promote the public interest but their primary duty will be to the bank's shareholders. This is because this is not a nationalising measure; it is one step short of that. What we have arranged...
- Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)
Brian Lenihan Jnr: In seven days one cannot repeal that tradition that imposes ethical and legal responsibilities on the director of a company.