Results 12,221-12,240 of 26,032 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: European Monetary Policy: Exchange of Views with Mr. Mario Draghi (8 Nov 2018)

Kieran O'Donnell: What of the risk to the Irish economy?

Seanad: Agriculture: Statements (24 Oct 2018)

Kieran O'Donnell: I welcome the Minister to the House. I want to make a couple of points on which I would like to hear his views. We had a briefing this morning from Teagasc and one of the key features that came across was the issue of climate change and that approximately 33% of reductions in terms of meeting the target to reduce emissions by 2030 are expected to come from the area of agriculture. The...

Seanad: Markets in Financial Instruments Bill 2018: Committee and Remaining Stages (23 Oct 2018)

Kieran O'Donnell: In terms of administration, when will these particular measures come into legal force?

Seanad: Markets in Financial Instruments Bill 2018: Committee and Remaining Stages (23 Oct 2018)

Kieran O'Donnell: There is no commencement orders for them. Obviously, that will be relatively imminently.

Seanad: Markets in Financial Instruments Bill 2018: Committee and Remaining Stages (23 Oct 2018)

Kieran O'Donnell: Will it go to the current President for signing or to-----

Seanad: Markets in Financial Instruments Bill 2018: Committee and Remaining Stages (23 Oct 2018)

Kieran O'Donnell: I will leave that question in mid air.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

Kieran O'Donnell: I thank Mr. Sibley for his comments. One of the reasons that this session has arisen is because a delegation from here visited Germany a number of weeks ago, in particular to assess the Sparkassen model. We looked at the operation of Sparkassen. We met officials from Sparkassen in their headquarters and we went to Lüneburg where one of the Sparkassen banks are located. Several...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

Kieran O'Donnell: We went out and we saw the banks in operation. There were many attractions. I am unsure whether the Sparkassen model in Germany would work here but there was much to be said for a public banking model. What elements could we bring back? Are there key elements we could take to be adapted within the credit union system and post office system to provide another public banking pillar?...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

Kieran O'Donnell: It is not perfect.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

Kieran O'Donnell: I refer to the core Sparkassen model.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

Kieran O'Donnell: I am fully aware that some of the Sparkassen models have an over concentration of lending in certain regions. If they are, for example, in a region dominated by cars, there may be an over concentration. Landesbank was a 100% subsidiary of Sparkassen. It went into speculative lending-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

Kieran O'Donnell: I am aware of all of that. I am zoning in and looking at the credit union movement which has enormous trustworthiness with the public. Some of the credit unions got into trouble but came through relatively unscathed. They are based in every town and rural area in Ireland. They have resources and have €7 billion on deposit with the mainstream banks. I believe there is a need for...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

Kieran O'Donnell: I am coming back to it to see what can be taken from the model to allow us to progress putting a public banking model in place. I refer to one owned by the members, not privately owned, and that is not a State bank but is a bank that can serve needs. The credit union network appears to tick many of those elements. My question is what other elements would Mr. Sibley like to see in there...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

Kieran O'Donnell: The model I am looking at is to let the credit unions operate individually. If they are moving into an area, however, there must be prudential lending and skill sets available to enable that lending to be assessed. I wonder can Mr. Sibley come up with a suitable model for the credit unions. They are doing it at the moment with home loans where they have appointed Link ASI, previously...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

Kieran O'Donnell: Yes, that is correct.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

Kieran O'Donnell: That is the model I am thinking of.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

Kieran O'Donnell: Mine is a more simple formula. Credit unions would remain individual credit unions that have to make prudential requirements. However, as it stands, my colleagues and I believe there is currently a gap in the market to service micro or small businesses in rural communities, cities and towns. The credit unions could come together. Individual unions could pay a levy to a central shared...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

Kieran O'Donnell: Does Mr. Casey believe that under the current rules there is sufficient scope for the credit unions to go further?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

Kieran O'Donnell: What is the 90%? How much additionally could they lend?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)

Kieran O'Donnell: I welcome our guests. For as long as I have been involved at national level there has been discussion on expanding the role of the credit unions. We had Ed Sibley from the Central Bank and members of his staff and Mr. Patrick Casey, the regulator of the credit unions, before the committee. Effectively, they told us that as far as they were concerned, there was no issue in terms of the...