Results 12,301-12,320 of 26,042 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: To Cerberus?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: What is the IFA asking for today?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: In his submission Mr. O'Donnell said that a settlement would not be honoured if the person in question appeared before this committee. He gave the example of company A, which had a loan from Ulster Bank. That loan was sold to a fund, a receiver was appointed and it was also made clear that the appearance by the company owner at this committee would result in withdrawal of the offer. Are...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: It is Cerberus.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: How has ISME found dealing with the funds on behalf of its members?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: This involves a refinancing arrangement.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: A delegation from the committee visited the European Central Bank, ECB, in recent weeks. We met the ECB to discuss loan restructuring, particularly of home loans. It informed us that it did not issue any instruction on non-performing loans and did not define a time for reducing the number of NPLs. It wanted loans put in place that were sustainable. If a loan was €200,000 and the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)
Kieran O'Donnell: I have a few questions. When a loan is restructured, what is regarded as a functioning loan? Say I have a loan of €200,000, for example, and it is in arrears, and the loan is restructured, what is regarded as a restructured functioning loan?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)
Kieran O'Donnell: It is the split mortgage that I am referring to.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)
Kieran O'Donnell: We went on a trip to Germany quite recently where we met officials from the ECB. We did some digging on what they regarded as restructured loans. I put it on the record that they were quite offended in that they felt they were being blamed for the Irish banks being put under pressure to bring their non-performing loan ratio down in a rapid fashion. In fact, they took grave exception to...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)
Kieran O'Donnell: They made a point of unilaterally bringing this up at the start of the meeting. We did not ask this question - they brought it up. These were officials from the ECB in Frankfurt.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)
Kieran O'Donnell: They said they did not want it to be said that they were the people causing the banks to sell to the funds and to bring their non-performing loans, NPLs, down at an accelerated rate. We then got into the space about the split mortgage and the affordable and functioning mortgage. I ask Mr. Masding and Mr. O'Sullivan to address those points.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)
Kieran O'Donnell: Have they set targets?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)
Kieran O'Donnell: That is a critical point. Mr. Masding has made a number of appearances before the committee. I have interpreted the reason for his actions, apart from the financial reasons of the banks, as being that the ECB, as the regulator, was putting pressure on him to get the number of non-performing loans down expeditiously.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)
Kieran O'Donnell: Is Permanent TSB regulated directly by the ECB?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)
Kieran O'Donnell: What is the European average?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)
Kieran O'Donnell: Would the regulator not have insisted on selling to funds?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)
Kieran O'Donnell: Was that a decision for the board of Permanent TSB?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)
Kieran O'Donnell: What percentage of loans are non-performing?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Property Loans (Project Glas) By Permanent TSB: Discussion (11 Oct 2018)
Kieran O'Donnell: What is the target in the next few years?