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Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Ciarán Lynch: The Senator is out of time. I gave him plenty of time.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Ciarán Lynch: Is that half of the people the bank wrote to-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Ciarán Lynch: -----or the complete book of arrears?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Ciarán Lynch: People have not provided a financial statement.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Ciarán Lynch: We may need extra time on that because I am aware a number of Deputies have received communication on the Priory Hall issue. To step out of Senator Byrne's time for a minute, Mr. Duffy might elaborate on that if he wishes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Ciarán Lynch: He might give us some more statistics on that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Ciarán Lynch: The Senator can come back to that. We have to finish up shortly.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Ciarán Lynch: To take Mr. O'Connor's example - he wrote the specifics into the bank's modelling - let us consider circumstances where there is no unsecured debt outside of the specifics, where there are no outstanding debts with any other creditor, for example, a credit union, a credit card company or a different bank in respect of a car loan, and where the only entity with which the couple involved is...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Ciarán Lynch: I will refine the question. Let us consider the position of someone who is insolvent but who could be taken out of insolvency by the putting in place of a split mortgage. If that person was to refuse the split mortgage and choose to pursue the insolvency route, would the bank veto any arrangement arrived at?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Ciarán Lynch: Before I bring in Senator Thomas Byrne on the second round of questions, which will be ten minute slots, I wish to make two statements. The communications unit is reporting to me that there is a good deal of telecommunications interference in the room and that many speakers who are talking are not being picked up because their mobile telephones, laptops or iPads are creating distortions in...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Ciarán Lynch: Before I call Deputy Higgins, I wish to clarify the matter of the information sought for this meeting. I am putting this point of clarity to this meeting and also because I am sure the communications units of the other banks are probably watching these proceedings. I am anxious to convey a clear message. When we arranged this series of meetings it was with the intention of the 20% target...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Ciarán Lynch: Thank you. I call Deputy Higgins.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Ciarán Lynch: Deputy Higgins, I must step out for a moment.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Ciarán Lynch: I ask the Deputy to restate his question.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Ciarán Lynch: The Deputy is not to speak again or he will be asked to leave the room.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Ciarán Lynch: No, the Deputy will get his chance.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Ciarán Lynch: We can bring Deputy Doherty in later.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Ciarán Lynch: That will be dealt with at the end of the first round of questions.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Ciarán Lynch: Of that €38 million, can Mr. O'Grady give me the split in terms of whether they are repossessions of homes or sustainable solutions that have been put in place in order that people can remain in their homes? Can Mr. O'Grady give me numbers?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Ciarán Lynch: The devil is always in the detail.

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