Results 1,081-1,100 of 23,109 for speaker:Paddy Burke

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)

Paddy Burke: Yes, we should write to the Central Bank in this regard. The Minister for Finance said some time ago that people who take over loans must abide by the terms of the original loan. Do the witnesses agree this is the case or is there a deviation from that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)

Paddy Burke: It is getting harder and harder for business people, housing developers and so on to get funding and, increasingly, they are going to funds, such as pension funds, for funding, rather than to the mainstream banks. Does Ms O'Hagan-Luff believe that, in the future, this type of funding will be the norm?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)

Paddy Burke: Does that mean the riskier funding should be handled by pension funds and the like?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)

Paddy Burke: Then they should be regulated.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)

Paddy Burke: Returning to what happened in the downturn - banks were at fault, Governments were at fault and people were probably at fault for investing - we saw many hard cases and many hard decisions had to be made. Some results were catastrophic for people. I wish to clarify what the witness is saying. I refer to new loans taken out by people now under different conditions to people who had loans...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)

Paddy Burke: -----at those times. The banks are more regulated and they have to have better capital ratios. It is a different scenario. Is it fair to say that people who took out loans in 2010, 2012 or 2014 should be treated differently from those taking out loans today?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)

Paddy Burke: Dr. O'Hagan-Luff is making the point that where banks give out a loan, they do not know if they are going to be able to repossess the house. A person taking out a loan today is doing so in different circumstances and a different scenario than what happened before the crash. Before the crash, wages were cut, interest rates - in some cases - went up, there was no market and no rental market....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)

Paddy Burke: Should those people get a break compared to people taking out a mortgage now?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)

Paddy Burke: The person in 2006 saw his or her salary cut as well.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)

Paddy Burke: Their salaries were reduced.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)

Paddy Burke: Yes, that was the case.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)

Paddy Burke: Yes, the person buying now does not expect his or her salary to be cut or the price of the house to go down.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)

Paddy Burke: What happened in those times was that a person's salary was cut and the price of the house went down. There was no market for anybody involved in buy-to-let then either.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)

Paddy Burke: They could have bought it around 2000 or so.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)

Paddy Burke: Those people should get a break.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (17 May 2018)

Paddy Burke: That is okay. Are there any other views on it?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank of Ireland (10 May 2018)

Paddy Burke: I welcome Professor Lane and his staff. In response to a question from Deputy Peter Burke, Professor Lane said that were it not for measures put in place in 2005 and 2006, the numbers involved in the tracker mortgage situation would be much higher. Is that the case?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank of Ireland (10 May 2018)

Paddy Burke: In terms of the wholesale breaches that were made with regard to tracker mortgages, did the Central Bank issue any instructions to any of the banks to get rid of staff who breached the regulations?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank of Ireland (10 May 2018)

Paddy Burke: Yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank of Ireland (10 May 2018)

Paddy Burke: It is 12 years since the regulations to which Professor Lane referred were breached. That was in 2006 but Ms Rowland is telling us that the investigation is still ongoing. Nobody has lost his or her job yet over those breaches.