Results 9,741-9,760 of 26,737 for speaker:John McGuinness

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: I know. Has the bank had to report on any adverse details?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: It is not that the witness cannot but that he will not.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: It is central to the work of this committee to know, at the least, whether there is any difficulty in any bank that has caused the witnesses to talk to the Central Bank. I am not saying the witnesses' bank has any difficulty but that generally, out of respect, we should be informed. That is all I am asking. I am now finding out that, irrespective of whether there is a difficulty in regard...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: This is not personal. Senator O'Donnell said earlier that Mr. Boucher said at a committee meeting at some stage or another he had concerns about a liquidity problem in 2008. That is fair enough.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: That is where the question is coming from. In answers to questions Nos. 27 and 28, the witnesses gave a reply that is just bank talk and bluff. That is how I would describe it. The way in which the bank has answered those two questions does not impress me. If the witnesses can, they should be a little more open about the issues. They have given their answer today so we will take it up...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: I know how it is set out but the question is whether it works. The question is on the Central Bank's view of the interaction with banks generally and the information they give. My view on the witnesses' answer to questions Nos. 27 and 28 is that they have refused to answer. If the 100 pages were written by the same individual who wrote the paragraph given, I do not believe I would like to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: I am not going to pursue it today but I will in the future because I do not accept that Mr. McLoughlin does not necessarily have to answer here in regard to questions Nos. 27 and 28. I refer to the manner in which the questions have been answered. If the Central Bank can put it into its report and if Frankfurt put it into a report, we have to be clear here in order to rebuild confidence in...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: Yes, but why was the operator not asked whether the information could be given to the finance committee, and then it could be given, instead of sending the fool further? This type of gobbledygook and smoke and mirrors has not served us well in the past and is not serving us well now. Does Senator Horkan wish to contribute?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: I am conscious of the time but ask Mr. McLoughlin to bear with us for a few minutes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: That question was asked before but I ask Mr. McLoughlin to go through it.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: The question has been asked before and I am pointing that out. However, if Senator Horkan will bear with me, I ask Mr. McLoughlin if he will cover the points that were not covered before.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: To conclude, I would like to raise a couple of issues. We will not get into them but I would like to mention them to Mr. McLoughlin. A lot of the cases being heard at registrar's court level involve Bank of Ireland. I attend some of the registrars' courts. When a customer of the bank engages with the registrar in an attempt to get information, correspondence or whatever else through the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: Does Mr. Mason believe that there will be an increase in the number of evictions or repossessions at the end of this year and in the course of next year?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: Has he seen it in general?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: Bank of Ireland has never packaged any mortgages or commercial loans for sale on to vulture funds. Do the witnesses think that will happen now that a level of really difficult cases in the bank has been reached? What do they think will happen?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: Does Mr. McLoughlin think that there might be a need in the future for some form of an ethical fund which would handle the really hard cases over a longer period? It would buy them from the bank and then extend the periods out from when the loans were bought rather than having to involve vulture funds at all. Is there a space for that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: That is the core of the bank's approach.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: To go back to the point in respect of staff and tracker mortgages, I understand that there was a letter issued to staff, presumably by the bank, which said that those who were currently on a two-year fixed rate of 3.95% would be put on the ECB rate plus 0.75%. Can Mr. McLoughlin confirm whether that letter issued? If so, will he provide the committee with a copy?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: That letter did go out.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

John McGuinness: Did Mr. McLoughlin ever engage with Mr. Kissane, who seems to represent quite a number of people involved in these cases? He was before the committee and met a number of its members separately. He has a real grasp of this particular issue.