Results 1,161-1,180 of 6,295 for speaker:Michael D'Arcy

Engagement with Investment Funds: Motion [Private Members] (27 Sep 2018)

Michael D'Arcy: I move amendment No. 1:To delete all words after "and the Department over those years; and” and substitute the following:"— calls on the Government to implement the recommendation contained in paragraph 18 of the Report to introduce legislation for the regulation of all unregulated entities operating in the Irish mortgage market in order to protect Irish consumers; and —...

Confidence in the Minister for Housing, Planning and Local Government: Motion [Private Members] (25 Sep 2018)

Michael D'Arcy: What about the Sinn Féin victims?

Markets in Financial Instruments Bill 2018: Order for Report Stage (25 Sep 2018)

Michael D'Arcy: I move: "That Report Stage be taken now."

Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Book Sales (25 Sep 2018)

Michael D'Arcy: The Minister for Finance cannot stop loan sales even by the banks in which the State has a shareholding.

Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Book Sales (25 Sep 2018)

Michael D'Arcy: No, he cannot. These decisions, including the composition of the loans included in any loan sale, are the responsibility of the board and management of the banks which must run on an independent and commercial basis. The banks' independence is protected by the relationship frameworks, which are legally binding documents that the Minister cannot change unilaterally. I am aware that some...

Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Book Sales (25 Sep 2018)

Michael D'Arcy: It has Harry Potter-style economics. Are we just going to pretend we have the money to purchase all of that loan book from-----

Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Book Sales (25 Sep 2018)

Michael D'Arcy: Are we going to pretend we are going to make the money up? Is Sinn Féin just going to vanish the money? Sinn Féin has a history-----

Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Book Sales (25 Sep 2018)

Michael D'Arcy: Sinn Féin has a long history of just grabbing money out of nowhere----

Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Book Sales (25 Sep 2018)

Michael D'Arcy: -----but there is no prospect-----

Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Book Sales (25 Sep 2018)

Michael D'Arcy: There is no prospect-----

Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Book Sales (25 Sep 2018)

Michael D'Arcy: We cannot just magic the money. We have a budgetary process that will culminate on this day two weeks. The Deputy just wants to click his fingers and make €2 billion, €3 billion or €5 billion appear like magic.

Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Book Sales (25 Sep 2018)

Michael D'Arcy: It is Sinn Féin Harry Potter-style economics.

Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Book Sales (25 Sep 2018)

Michael D'Arcy: It is Harry Potter-style economics of just pretending it is going to appear out of nowhere. The Deputy will then be complaining that the State is not building.

Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Book Sales (25 Sep 2018)

Michael D'Arcy: It is Harry Potter-style economics.

Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Book Sales (25 Sep 2018)

Michael D'Arcy: Since the onset of the financial crisis, progress has been made by the banks in reducing non-performing loans, NPLs, from their peak. NPLs at the banks in which the State has invested have reduced by approximately 70% from €54 billion in 2013 to €16 billion at the end of June 2018. This reduction includes the recently announced sale of a portfolio of NPLs by Permanent TSB,...

Central Bank (National Claims Information Database) Bill 2018: Referral to Select Committee (20 Sep 2018)

Michael D'Arcy: I move:That the Bill be referred to the Select Committee on Finance, Public Expenditure and Reform, and Taoiseach pursuant to Standing Orders 84A(3)(a) and 149(1).

Central Bank (National Claims Information Database) Bill 2018: Second Stage (20 Sep 2018)

Michael D'Arcy: He might return to the Chamber.

Central Bank (National Claims Information Database) Bill 2018: Second Stage (20 Sep 2018)

Michael D'Arcy: On the closure of offices as raised by Deputy Michael Collins, the Department of Finance has no role in the internal decisions of commercial entities. The closure of the Axa office in west Cork is unfortunate but I am certain there are brokers in towns and villages throughout west Cork who act as very capable intermediaries between customers and insurance companies. Although Axa may choose...

Central Bank (National Claims Information Database) Bill 2018: Second Stage (20 Sep 2018)

Michael D'Arcy: I have a speech prepared but it will not touch on many of the issues that have been raised so I will try to address them as best I can. Deputy Curran's question as to whether we are doing enough is a fair one. The first report was in January 2017 and followed a period of consultation and analysis, approximately 19 months ago. We are now in the heavy-lifting phase. I welcome support...

Central Bank (National Claims Information Database) Bill 2018: Second Stage (20 Sep 2018)

Michael D'Arcy: No, it does not indicate it is a big problem. What we are doing is ensuring that last year's premium is shown on the same page as the new premium if a company proposes to increase it. It will be evident that a premium has increased by X, Y or Z and there is not a cost attached to applying that. People can then shop around. We are also increasing the period of time for which people have...