Results 10,181-10,200 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Health: Medicinal Products Reimbursement (9 Oct 2018)

Michael McGrath: 352. To ask the Minister for Health if the finger test strip utilisation monitoring is indicating a cost or a saving (details supplied); the measures the HSE has determined to be the next steps in the finger test strips utilisation monitoring; the way in which persons that will turn 22 years of age in the next six months will be treated if they do not qualify for the reimbursement scheme any...

Written Answers — Department of Communications, Climate Action and Environment: Broadband Service Provision (9 Oct 2018)

Michael McGrath: 428. To ask the Minister for Communications, Climate Action and Environment the status of the roll-out of broadband to a village (details supplied) in County Cork; and if he will make a statement on the matter. [41154/18]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Michael McGrath: I welcome the Governor and his colleagues. He dealt with the tracker issue in part 1 of his statement and I have one question on that. The Governor put on the record a reference to 38,400 impacted customers. That includes 7,100 pre-examination cases.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Michael McGrath: He said 7% remain without an offer of redress and compensation. Is that 7% of 38,400 or of the total minus the 7,100 cases? I am trying to clarify the number of customers that have yet to receive an offer of redress.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Michael McGrath: In the cases of the 3,000 customers who are yet to receive redress and compensation, the banks know who they are. They are identified accounts and customers who have been impacted.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Michael McGrath: They may have surfaced but they were always there. They were just not identified.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Michael McGrath: In December 2015, the Central Bank wrote to the lenders setting out the framework of the examination. We will be a full three years on from that in two months, yet 10% of those identified as being affected have yet to receive their money back.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Michael McGrath: Sure.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Michael McGrath: Why can the Central Bank not put a deadline for restitution for those who have been identified?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Michael McGrath: The Central Bank referred to the accountability framework in the behaviour and culture report. The public believes that there must be a consequence for poor behaviour. The Central Bank referred to a need for additional powers under legislation, which is a matter for the Oireachtas. What does it have in mind specifically in regard to powers that it requires and wants the Oireachtas to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Michael McGrath: I have one brief final question. Is there sufficient focus on the long-term goals and performance of the institution, rather than an excessive focus on short-term performance, share price, dividend expectations, profitability and so on?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)

Michael McGrath: I wish to ask the Governor about competition in the mortgage market here and the role the Central Bank's capital requirements play in our ability to attract new entrants. I ask him to clarify the rules that apply. Do the capital requirements lenders need to put in place act as a deterrent from such lenders coming here? The risk weighting for a mortgage by way of capital must be put aside....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)

Michael McGrath: It is still a factor.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)

Michael McGrath: I am looking at a table from the European Banking Authority, EBA, which shows average internal risk weighting for residential mortgages during the first half of 2017. It shows Ireland at 42.5%. Sweden would be at the other end at 4.2% and the UK is at 10.5%. Is it appropriate to levy those very high risk weightings on mortgages that are being issued now in an entirely different environment...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)

Michael McGrath: Before Mr. Sibley comes in, that risk weighting has been shaped by a history of 100% mortgages and a loan-to-income ratio of six. While it is now fundamentally different, we are still attaching a very high risk weighting to new mortgages under entirely different rules. It seems to me to be a real issue as we are trying to get more competition into the Irish market.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)

Michael McGrath: Of that bank.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)

Michael McGrath: I will move on to Brexit. In the event of a cliff-edge Brexit with no transition period and no deal, how prepared will we be in respect of financial services and products being sold into Ireland on the basis of the passporting provisions and branch operations? The question goes the other way as well in respect of companies that have their prudential regulation here and are selling into the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)

Michael McGrath: On housing, the Governor has welcomed the moderation in house price growth. He made some comments the last time he was before this committee, as well. What is his assessment of the housing market and house prices? Is supply coming on stream at the pace he expected and does the Central Bank see further moderation or perhaps an end to growth in prices? What is the Governor looking at over...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)

Michael McGrath: What is the position regarding prices?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank (4 Oct 2018)

Michael McGrath: One of the Central Bank's deputy governors, Sharon Donnery, has applied for the role of chair of the Single Supervisory Mechanism board. We were in Frankfurt recently as a committee and met the current chair. We wish the deputy governor all the best in that application. The Governor has confirmed publicly that he is interested in the chief economist position in the ECB, which will become...