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

Kieran O'Donnell: Yes.

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

Kieran O'Donnell: Can I hear from Mr. Farrell and Mr. Molan as they are at the front line? Will Mr. Farrell tell me what the real story is here?

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

Kieran O'Donnell: Yes.

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 not talking about Sparkasse. Do the existing rules and regulations provide the capacity for the credit union movement to grow SME lending without the need to introduce new regulations or reinvent the wheel?

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

Kieran O'Donnell: Why, allowing for the individual factors Mr. Johnson outlined regarding larger credit unions, why is the level of commercial lending only one tenth of overall capacity? Why does the level appear to be so low?

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

Kieran O'Donnell: What route should we take to increase the level of SME lending and the number of home loans offered by credit unions?

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 about de-risking.

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

Kieran O'Donnell: It had to be €25,000 or above to be classified as commercial.

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

Kieran O'Donnell: Organically.

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 about skill sets and de-risking.

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

Kieran O'Donnell: Good.

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 our guests.

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: I welcome the witnesses to the proceedings. I have a question for the IFA. We are being told by many business customers that there is constructive non-engagement by the banks in terms of looking at restructuring loans because they have the backstop of selling to the funds. It is a form of moral hazard in its own right. I ask the representatives of the IFA to tell us about farmers'...

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: Very few of the pillar banks have not sold loans.

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: Is Mr. Stapleton talking about Bank of Ireland?

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: Which bank has its non-performing loans sorted at this stage?

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: They have been sold 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: That sale involves Everyday Finance.

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: Is Mr. Stapleton talking about the sale to Everyday Finance?

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: Does Mr. Stapleton believe AIB is using the process to effectively delay any solutions until the loans are sold to a fund, Everyday Finance?

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