Results 9,341-9,360 of 26,465 for speaker:John McGuinness
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
John McGuinness: On the tracker front, earlier Mr. Byrne gave a figure for the cost of sorting this of approximately €180 million.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
John McGuinness: What was this for? What did the bank address with this figure? Is it compensation?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
John McGuinness: Is there a breakdown of how the €180 million is expected to pan out, in terms of putting people back on tracker rates and as compensation?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
John McGuinness: This includes addressing it and compensation.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
John McGuinness: Another issue, which arose through correspondence with the committee, caused me to look at the Central Bank's update on the examination of trackers. On pages 18 and 19 examples are given of issues identified as within scope and impacted as part of the examination. The first is the contractual issue resulting in loss of tracker product, and the second is transparency issues resulting in loss...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
John McGuinness: AIB will take these examples and state that beyond what is obvious it needs to look at these examples also.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
John McGuinness: All circumstances.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
John McGuinness: All circumstances of the individual cases within those examples.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
John McGuinness: Okay. Some of the correspondence we have received indicates to us that customers of AIB feel they are being excluded from consideration, but they are taking comfort from the fact that one of the examples gives them a reason to be considered. When we have this difference of opinion, who adjudicates on it within the bank? Is it a high-level-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
John McGuinness: By the time individual customers get to the end of all of these options, do many still feel they have been shortchanged, for want of a better word?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
John McGuinness: This is within the bank.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
John McGuinness: I understand that, but the process is there.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
John McGuinness: Customers exhaust all of this and then they can go-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
John McGuinness: How limited is the bank in terms of its view on this? Is it flexible? Does it give every aspect of these individual cases every hearing that is possible?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
John McGuinness: At what level in the bank are these decisions made? Is there a group that oversees all of this?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
John McGuinness: I want to go back to a point made by Deputy Doherty. While not wishing to get into who did it, I want to explore something in which I am interested, namely, the idea of risk managers. I have put this to Bank of Ireland. Is the risk manager in the bank, who has the obligation under legislation to report to the Central Bank, one person or is it a number of risk managers who inform Mr. Byrne?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
John McGuinness: It is all rolled into one role, the chief risk manager.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
John McGuinness: The legislation and the obligation around anything that might have to be reported then kicks in.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
John McGuinness: Way back when all this happened, or even when the tracker issue occurred, would that have come up through this process?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
John McGuinness: This is not to point the finger. I just want to understand.