Results 12,561-12,580 of 26,357 for speaker:Kieran O'Donnell
- 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...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)
Kieran O'Donnell: Fine. Would individual credit unions be engaged in commercial lending to the level of 50% of their regulatory reserve?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)
Kieran O'Donnell: I have reached the point where I want detail. I am utterly supportive of the 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: We need to get down to brass tacks. We need to know if the credit unions have the capacity within the existing regulatory rules to engage in SME lending, or is there some barrier? The Chairman alluded to this earlier. He asked the exact question I intended to ask. It is the only question we need answered. The regulator implied that the capacity existed but the credit unions were not...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Report on Local Public Banking: Discussion (23 Oct 2018)
Kieran O'Donnell: That would be in within the CUDA family.
- 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.