Results 9,441-9,460 of 10,460 for speaker:Gerry Horkan
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Gerry Horkan: Senator O'Donnell, you have gone way over your time.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Gerry Horkan: This is your third final question.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Gerry Horkan: I will call Senator Conway-Walsh shortly but on Senator O'Donnell's point, I presume the interest rate environment the witnesses are operating within and the negative interest rates they are being charged makes it less attractive to take in money than if they were getting a rate of return on it.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Gerry Horkan: That is a significant part of the reason some credit unions might be restricting the funds because the more funds they take in, the more money they will be charged by the banks for managing those funds on their behalf. Historically, if they put money into a bank, they got an interest rate back.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Gerry Horkan: I am actually next to speak so will be putting my questions through myself, but that is the way these things happen.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Gerry Horkan: The delegates are all very welcome. I got to hear most of the their contributions and to study them in advance of their attending. The league is focusing mainly on the Republic aspect. There are 297 credit unions within the Republic. We were saying one size does not fit all. Are there bands of credit unions? Are there ten or 20 that are huge and 80 that are minute? Could I have an idea...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Gerry Horkan: Fifty or so are in the band with assets more than €100 million.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Gerry Horkan: How many have balance sheets between €25 million and €100 million, and how many have balance sheets below €25 million?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Gerry Horkan: Is it envisaged that there will be more mergers or transfers of engagements, perhaps for efficiency purposes?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Gerry Horkan: Mr. Farrell said there was a band for assets worth less than €10 million. Is there a minimum that has to exist?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Gerry Horkan: Is that driving philosophy coming from the regulator or the banks?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Gerry Horkan: Who is it coming from?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Gerry Horkan: Is Mr. McCrory arguing, or is the point being put forward, that the regulatory requirements credit unions have been required to meet at present are excessive?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Gerry Horkan: That is not the question I am asking. Is the level of regulation of credit unions excessive now as opposed to previously? Is it greater than the delegation believes is required?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Gerry Horkan: Is the argument that the regulation, which the delegates admit is expensive, is excessive?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Gerry Horkan: As members, we will be asking Department of Finance officials on Thursday for their take on what the delegates are saying today. We will be asking them why all credit unions are being regulated to the same extent. We are trying to pre-empt the discussion and get as much ammunition from the delegates as possible. The cost of regulation is significant and it did not always arise. I believe...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Gerry Horkan: For the benefit of viewers, could we have examples of regulations that did not exist heretofore but that now exist and are excessively burdensome, particularly for the smaller entities?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Gerry Horkan: Are these funds being created effectively in case one of the entities collapses?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Gerry Horkan: Were those funds administered by the Department of Finance, the Central Bank or the credit union regulator?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Gerry Horkan: Mr. Farrell said he was reassured that it was a four-year deal. Who said that to him?