Results 9,981-10,000 of 16,492 for speaker:Ciarán Lynch

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: For those on the mortgage book who may have been able to discuss their financial situation with another financial institution in the country - let us say, one of those that comes under the regulation of the Central Bank - and have received loan approval to purchase their mortgage out of the new structure, is it envisaged that the purchasing out will draw penalties upon the buy-out?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: Was Mr. Wallace advised to get an independent valuation?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: Was Mr. Wallace also told to appoint PwC to advise in the sales strategy, or was that a decision made by the special liquidators themselves?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: Why did Mr. Wallace decide he was not competent enough to do it and had to bring in PwC?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: I thank Mr. Richardson. Could the delegates explain who the creditors are in the liquidation process?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: Between NAMA and the State, what is the percentage in the creditor book?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: Consequent to last night’s statement, many people in the mix will be very interested in knowing the detail. What level of supervision can be applied to the voluntary code of practice that was announced in the press statement last evening?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: Who supervises that? The Central Bank would supervise the banks that fall under the regulator's office. Who supervises this one?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: So the Central Bank will not be supervising any of these loans after the sale?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: That brings me on to the next question. There are resolution targets. The delegation mentioned its own resolution targets in its opening statement. I will return to this later. Under the existing scheme, set out around April of last year, very specific targets were set for the banks. There are percentages of 25%, 35%, 50%, etc. There was a carrot-and-stick approach. The stick approach...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: That is not the question I am asking. Mr. Wallace referred to the current state of play and said that following the sale of the loan book, a voluntary code of practice will apply, but I am saying the current resolution process for people in Allied Irish Banks, Bank of Ireland, Ulster Bank, Permanent TSB involves very specific targets which, if not met, result in the application of penalties...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: Is there no structure for the resolution process and are no targets in place for the period after the sale?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: Following the sale of the loan book, will homeowners be in a position to transfer their loan from the new financial institution to an institution subscribing to the code of conduct and subject to regulation by the Central Bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: Let me move on to the Department of Finance. The statement issued last evening by the liquidator claims all the parties now in phase 2 agree on abiding by the voluntary code of conduct. In earlier comments by the Minister and the Department, there seems to have been concern about the rating in terms of the creditors' best interests and distortion with regard to the value of the book on the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: We will now deal with matters relating to the sale of the IBRC mortgage loan book. Before we commence business, I remind members, witnesses and those in the Visitors Gallery that all mobile phones must be switched off to avoid interference with the broadcasting of the meeting. The meeting is being broadcast, not on cable but on a webcast, and there will be people watching it. Any mobile...

Written Answers — Department of Agriculture, Food and the Marine: Severe Weather Events Response (26 Feb 2014)

Ciarán Lynch: 194. To ask the Minister for Agriculture, Food and the Marine the action he will take in regard to providing compensation for fishermen who suffered losses as a result of recent adverse weather conditions (details supplied); and if he will make a statement on the matter. [9795/14]

Written Answers — Department of Health: Hospital Appointment Delays (26 Feb 2014)

Ciarán Lynch: 223. To ask the Minister for Health when an appointment will be provided in respect of a person (details supplied) in County Cork who has been referred to South Infirmary Victoria University Hospital for orthopaedic treatment; and if he will make a statement on the matter. [9791/14]

Written Answers — Department of Finance: Bank Branch Closures (25 Feb 2014)

Ciarán Lynch: 215. To ask the Minister for Finance if he has had discussions with his counterpart in the UK regarding the largely State owned RBS Bank and its plans for its subsidiary Ulster Bank; if it is intended to close branches and reduce staff and services here; and if he will make a statement on the matter. [9475/14]

Written Answers — Department of Health: Health Services Issues (25 Feb 2014)

Ciarán Lynch: 678. To ask the Minister for Health the action being taken to provide for the urgent care needs of a person (details supplied) in County Cork; and if he will make a statement on the matter. [9314/14]

Order of Business (20 Feb 2014)

Ciarán Lynch: First, I apologise for any disrespect I may have cast on the Chair earlier this morning. Also, comments were made earlier this morning-----