Results 9,661-9,680 of 16,492 for speaker:Ciarán Lynch

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)

Ciarán Lynch: I will return to some borrowing, but an issue that is popping up with the institutions we have seen so far is the legacy debt that becomes unsecured after repossession of a property. How is Allied Irish Banks dealing with that debt? Is it writing that debt off after the sale or is it being left there as a legacy?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)

Ciarán Lynch: Just to move to a more macro figure, before I move on to something else, does Allied Irish Banks have to hand - if not, it can be provided to the committee at a later time - a value for its distressed loan book, for both negative and positive equity?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)

Ciarán Lynch: One category of AIB customer was actually AIB staff. Am I correct in saying that members of the bank at different levels were provided with loans by the bank, whether business or mortgage loans? The witnesses may not have that figure to hand.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)

Ciarán Lynch: Were those loans at a preferential interest rate or at some incentivised interest rate?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)

Ciarán Lynch: So they were all-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)

Ciarán Lynch: Were they business loans or other types of loan?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)

Ciarán Lynch: Do the witnesses have a value for these loans that are now in arrears?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)

Ciarán Lynch: Do the witnesses have the number of staff loans and the number of staff loans in arrears?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)

Ciarán Lynch: Will he also provide the value of those loans?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)

Ciarán Lynch: I thank Mr. Duffy. May I advise witnesses that I may make an adjustment to the regular rotation in order to accommodate members who wish to speak on legislation in the Chamber. As Deputy McGrath needs to be in the Chamber shortly, I invite him to lead off.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)

Ciarán Lynch: We resume in public session with No. 7 on the agenda, matters relating to mortgage arrears and resolution processes. I remind members, witnesses and those in the public gallery that mobile phones must be switched off to avoid interference with the broadcasting of the meeting. I welcome the representatives of Allied Irish Banks. We are joined by Mr. David Duffy, chief executive officer, Mr....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)

Ciarán Lynch: That refers to earlier decisions overturned.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)

Ciarán Lynch: One member has asked me to deal with one question about an outstanding issue. We will look for this from all the banks. I do not expect the witnesses to have this information to hand, but they can inform us of it at their earliest convenience. Can the witnesses tell us the total estimated amount in value terms of negative equity in respect of all owner-occupier mortgages?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)

Ciarán Lynch: In cash terms, how much is the value of the PDH sector?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)

Ciarán Lynch: I thank the witnesses from Permanent TSB. I concur with the sentiments of members that a good body of work has been done since we last met. It is a difficult journey and dealing with this crisis is like trying to unravel a ball of knots. Pulling at one side tightens up the other side and creates difficulty. I welcome the acknowledgement of the deep learning curve, as exists for all of us....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)

Ciarán Lynch: How many of the appeals are successful?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)

Ciarán Lynch: Some sort of advocacy support.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)

Ciarán Lynch: If the Senator would listen for a second, I am trying to assist her. She is half way through her time and there are a number of other speakers. If she returns after the vote in the Seanad, I will allow her to contribute again.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)

Ciarán Lynch: I will address that point before bringing in Deputy Donnelly. This is something that was dealt with in a previous series of meetings. It is the matter of sustainable solutions that may transfer into a person's retirement phase. The resolution process seems to be very much about sorting out debt during a person's working life, if not through the determined period of the schedule of 20 to 25...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Permanent TSB and AIB (9 Apr 2014)

Ciarán Lynch: That applies in some cases but we know from the likes of medical card applications that some pensioners have income of thousands of euro every week. There are thresholds in that respect. I am not talking about somebody in receipt of the non-contributory pension but rather somebody who has been in the public or private sector with a considerable pension income. The certainty in such pension...