Results 12,701-12,720 of 27,945 for speaker:Michael McGrath
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: Is Mr. Mitchell saying that the bank's margin above the ECB rate varied over a number of years and went up to 3.25%?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: Were actual tracker customers being charged ECB plus 3.25%?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: Is Mr. Mitchell's core point that since that was the margin that applied when this affected cohort took out their mortgages, when they came off the fixed rate, he believes the correct thing to do was to apply that margin to them when they came off the fixed rate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: Has the Central Bank adjudicated on that?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: There are 45,000 people or so on a variable rate of 4.5% and some may have misplaced the correspondence from 2015 and 2016. If they contact the bank now, will it honour the voucher for the valuation and pay for a valuation to be done on the property so they can access a lower rate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: I am asking for a commitment.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: I welcome Mr. Verbraeken and his colleagues. I hope that I have pronounced his name correctly. It is KBC's first appearance before an Oireachtas committee and I thank it for its co-operation. I will begin with the tracker mortgage examination. Mr. Verbraeken's statement did not give any details and I think that was quite a conscious decision on his part. Of all the banks, I have...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: Am I correct in saying Mr. Verbraeken will not put any numbers on it? Is that the position?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: Will the bank meet the Central Bank's deadline of the end of September for the completion of phase 2?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: Why not?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: By how much will the bank miss the deadline?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: Not even an estimate.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: That is not good enough. This is a deadline imposed by the regulator about a tracker mortgage examination concerning where customers were, in some cases, wrongly denied a tracker rate. Money was taken from them and Mr. Verbraeken will not put any figures on it. I will put some figures on it and I could go through a whole folder of them. I will give the witness two examples. One family...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: When did the bank start the process?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: When in 2016?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: What was the 2010 issue, or the specific cohort in 2010?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: How many were affected at that time?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: That is completed. When was that dealt with?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: It was a case that they were still on the fixed rate but entitled at the end of the relevant period to move to a tracker rate, and they did get that rate at the appropriate time so there was no loss for them. Is that the case?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)
Michael McGrath: Did that not trigger a review within the bank? I appreciate that Mr. Verbraeken was not in charge at the time. That was an important issue identified. Was there not a trawl through the mortgage book to examine the related issue of customers who may have come off a fixed rate and who were not offered a tracker rate?