Results 9,901-9,920 of 10,460 for speaker:Gerry Horkan
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Gerry Horkan: What was the peak?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Gerry Horkan: Are there new people going in to that category?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Gerry Horkan: What is the ratio of in to out? Is it 1:2 or 1:10?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Gerry Horkan: I thank the witness. I will come back in later.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Gerry Horkan: I thank Senator Paddy Burke. Is it fair to say, as such, that the Central Bank is open and ready for business in terms of people looking to come into this environment to be regulated?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Gerry Horkan: I have a few points I want to address before we conclude. The tracker mortgage issue was a system-wide problem. Everybody was doing the same wrong thing, it appears. What are Professor Lane's thoughts? Was it deliberate? It was hardly by accident that everybody made the same mistakes. They took people off trackers and put them back on the wrong rate. Whether it was cartel behaviour or...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Gerry Horkan: Does Professor Lane acknowledge that they all made the same mistakes?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Gerry Horkan: Does Professor Lane acknowledge that many banks made similar errors in calculations in similar circumstance affecting similar products?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Gerry Horkan: Perhaps Professor Lane cannot answer this either, but does he feel it was not just a technological glitch but was deliberate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Gerry Horkan: Do the witnesses have any figures on the fines that have been levied by the Central Bank on the various institutions over recent years?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Gerry Horkan: Without being exact, what does "fairly high" mean? Is it €100 million or €20 million, for example?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Gerry Horkan: We addressed the issue of staff numbers with the Deputy Governor of the Central Bank, Cyril Roux. How many staff does the Central Bank have?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Gerry Horkan: The figure is still 149 short of where it should be. Is that correct?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Gerry Horkan: I was asked by a specific credit union to raise a point about a fine imposed on it for not complying fully with money laundering legislation. The credit union in question did not have any issue with solvency or a gap in its figures or hole in its accounts. A fine of €90,000 was imposed on an organisation that considers itself to be very much of the community and is not a large...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Gerry Horkan: I read the opening statement in advance, which refers to weaknesses in new lending practices in banks and the need for banks to make a significant investment in information technology. While the term "prehistoric" is not used, Professor Lane's opening statement suggest the banks are way behind where they should be in terms of information technology. Have the banks learned? They are now...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Gerry Horkan: To be fair, Professor Lane's statement notes that the banks are lending without consideration of risk in terms of long-term lending and using league tables to incentivise staff to drive lending volume without consideration of quality. These are all practices we heard about before.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Gerry Horkan: Are their IT structures dated and not fit for purpose? Do they need significant investment to bring them to where they should be?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Gerry Horkan: It is well documented that the Central Bank had issues and reservations concerning the help-to-buy or home loans scheme when it was proposed by the Minister for Finance. Will the Governor outline some of these concerns?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Gerry Horkan: This information has been publicly available but given that he is here, I would like to hear the Governor's views on the matter in his own words.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Gerry Horkan: As no-one else is indicating they would like to contribute I thank the Governor, Professor Lane, and Mr. Sibley for their opening statements and contributions. The Chairman has asked me to apologise on his behalf as he had another meeting he had to attend. He would like to wish everybody a happy Christmas, as would I, so a happy Christmas to you all. The joint committee is adjourned until...