Results 11,781-11,800 of 26,032 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
Kieran O'Donnell: Are there any circumstances in which Ireland could gain from Brexit, whether there is a deal, no deal or a disruptive no deal?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
Kieran O'Donnell: Is that true for any sector?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
Kieran O'Donnell: What areas would Professor Lane see expanding?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
Kieran O'Donnell: Is the Central Bank seeing a major influx of UK-based banks setting up operations in Ireland and creating jobs?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
Kieran O'Donnell: Professor Lane mentioned non-performing loans being sold to funds and said the transfer of credit risk and funding risk to investment funds that buy loans constitutes a national reduction in macrofinancial risk, on account of the fact that these funds are primarily overseas. In the context of Brexit we are hearing from people dealing with the funds primarily that many of them are 100% geared....
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
Kieran O'Donnell: I do not dispute the Governor's finding that it reduces the exposure. However, he said the Central Bank's mission statement is to operate in the best interests of consumers and the wider economy. We are duty bound to ask the question. The Governor made reference to it earlier. I am just putting a view that in many cases we are being told that many of these investment funds are not...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
Kieran O'Donnell: They are highly geared.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
Kieran O'Donnell: I would slightly dispute that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
Kieran O'Donnell: Point taken.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
Kieran O'Donnell: I am asking if the Central Bank has done factual analysis on that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
Kieran O'Donnell: I ask that the Central Bank would continue to undertake empirical work on the area.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
Kieran O'Donnell: We are dealing with people on the ground, both people acting on behalf of people in distressed mortgages where the mortgages have been sold on to funds, plus the individuals themselves. There should be empirical work on that area where effectively a fund is borrowing for five-year funding but they are buying assets. I take the Governor's point but their model in many cases appears to be a...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
Kieran O'Donnell: The Central Bank should report back to us with an update at some future date.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
Kieran O'Donnell: Will the Central Bank publish those findings?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
Kieran O'Donnell: That is fine.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
Kieran O'Donnell: Our guests were speaking about risk. We have invested €25 billion of taxpayers' money in the banks. That money is sitting there. That is a risk to the State and to taxpayers' money. In time, what impact will Brexit have? The banks' share prices have fallen in recent times as a result of Brexit. I have been following both the Irish and UK banks. I do not know how well they are...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
Kieran O'Donnell: No, I am just saying-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
Kieran O'Donnell: It is well in excess of €20 billion.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
Kieran O'Donnell: I am making a statement. How does the Governor see Brexit and everything that has happened impacting on the State's policy over time?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)
Kieran O'Donnell: In the context of trackers, the Central Bank states that its enforcement work is ongoing and that it is engaged in forensic investigation. Can our guests provide an update as to where the enforcement proceedings stand? How many institutions are involved and what is the timeframe for taking action?