Results 1,141-1,160 of 26,674 for speaker:John McGuinness
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: Okay. Well, I know a complaint was made to the Central Bank about a transaction that took place going way back to the time of Anglo Irish Bank. This concerned a loan that was transferred to private accounts instead of to the entity. This is where the loan actually ended up. The farmers involved in this matter made a complaint to the Central Bank but little or nothing came of it. I was...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: It was a complaint that was ongoing. It just dates back over the last few years. It does not date back to Anglo Irish Bank and the early days.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: I was struck by the fact that the Central Bank seemed as if it had not gone into great detail regarding this matter. I would like to see this issue being investigated, or, at least, the Central Bank providing the information in this regard. I know the witnesses cannot do this here because I just landed them with the question. It concerns me greatly, though, that this happened and there was...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: I will do that. I will pass it to the witnesses after the meeting, just to be clear about it.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: There were a lot of different-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: If it was fraud or dodgy business, that needs to be exposed. If the central figures in it provide the witnesses with the information, I think that there should be a comprehensive-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: Yes. I also discussed with the witnesses previously about the accountancy profession, how the banks account for losses, and the advice given. There is a difference of opinion between the IFRS 9 and how banks account for losses. In other words, they do not have to account for losses completely in their accounts and the information and advice that they are getting is contrary to the European...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: Not everyone will be happy. I am wondering, however, whether the Central Bank will stick with it until all of the Belfry questions have been dealt with.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: Okay, I will send questions to the Central Bank then. Do banks get fined for that kind of-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: What about EBS as an example? That is nearly finished. Again, will the Central Bank oversee it until the end and will there be fines?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: The headline was carried as "Central Bank head Makhlouf rejects claim that Irish banking market is 'dysfunctional'".
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: I know that. It was the easiest way for me to refer to the article. I could refer to other things. The likes of Belfry and EBS have been dragging on from when they started way back up until now and other issues have been raised around the tracker mortgage issue and what happens when banks sell on at an early stage. I refer, for example, to banks selling to vulture funds when...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: To say the least.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: These are not just words that are made up and put out there randomly. I say this to Mr. Makhlouf out of experience of the tracker mortgages, EBS and Belfry. They may be historical issues but they are not actually, as EBS is still not resolved. It shows the intent of a big bank not to recognise its failings. That is what it tells me. The constant measurement banks take seems to be...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: For me, that is dysfunctional. I will tell Mr. Makhlouf what else is dysfunctional-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: The complaints procedures in banks are dysfunctional. A lady in her later years found out that her signature was on a guarantee in the bank. It is her signature and her late husband's signature but it is obvious that she was never in the bank, she never signed the document in a bank and she does not know the people who are on it with her from the bank. Therefore, she made a complaint and...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: I will send Mr. Makhlouf the letters. It is outrageous, and she is not the only one. The bank could say that, no, this woman is actually wrong and that it got that sorted and she did sign it. It is not even doing that. Bank officials are not even meeting the woman. The complaint goes to a centre somewhere where somebody deals with it. Finally, I want to say this to Mr. Makhlouf...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: That is all I would say to Mr. Makhlouf.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: It is not a criticism of the bank, it is-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (14 Feb 2024)
John McGuinness: -----the way everything is emerging. Mr. Makhlouf said things are going to change, and they certainly are. They are changing rapidly. I think of the elderly and even those in equity release.