Results 12,901-12,920 of 26,357 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (29 May 2018)
Kieran O'Donnell: Who will regulate the funds if the directive is implemented through the whole EU? The EU Commission has stated:The proposed Directive defines the activities of credit servicers, sets common standards for authorisation and supervision and imposes conduct rules across the EU. It means that operators respecting those rules can be active throughout the EU without separate national authorisation...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (29 May 2018)
Kieran O'Donnell: I am aware that the Central Bank has written to the credit servicing providers to encourage them to come in to the committee, but the fact is that these credit servicing companies are giving the committee the proverbial two fingers. That is just not good enough.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (29 May 2018)
Kieran O'Donnell: I am not saying that-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (29 May 2018)
Kieran O'Donnell: With due respect to Mr. Tobin, I would not give any gold star for attending with two days' notice; that is the way it should be. We appreciate that but Mr. Tobin is stating the obvious. The problem for the committee is that we deal with people on the ground whose loans are being sold to the funds, the shutters come down and they feel it. We are looking for better regulation. How will what...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (29 May 2018)
Kieran O'Donnell: People hold loans in various institutions and although consumer protection rules still apply, the funds are able to operate at a remove. I am not a banker but if I look at the legislation, it seems the Central Bank has powers in this regard. I note the Governor, Ms McEvoy's boss, appeared before the committee recently and he stated that bank personnel were going to the premises of firms,...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (29 May 2018)
Kieran O'Donnell: We welcome that. Is it fair to say that up to now the provisioning system within banks was based on when the loan was realised, as distinct from provisioning as the bank went along? Am I correct in the analysis?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (29 May 2018)
Kieran O'Donnell: They were not legally required to do that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Resolution of Non-Performing Loans: Discussion (Resumed) (29 May 2018)
Kieran O'Donnell: I ask Ms McEvoy that everything should be done within the power of the Central Bank to ensure that no stone is left unturned to get representatives of credit servicing firms before us. There is currently a lacuna among people with loans in those funds. They are entitled to know precisely how they operate. I welcome the fact that the Central Bank is working with the committee. The bank...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)
Kieran O'Donnell: We had various groups in last week. Some of the key points they made were about areas that have already been covered, specifically the national database and the book of quantum. They also wanted to see developments with the Garda fraud unit. Did the Minister of State indicate that comes under the Department of Transport, Tourism and Sport?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)
Kieran O'Donnell: I just had a look at the fifth quarterly update on progress. I refer the Minister of State to page 24 which deals with the establishment of the national claims information database. According to the report, it was agreed in quarter 1 of last year that key aggregate metrics for immediate publication would be specified and the development of a national claims information database would be...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)
Kieran O'Donnell: A claim-by-claim register?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)
Kieran O'Donnell: In quarter 2 of this year.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)
Kieran O'Donnell: Are we still on target to have that ready by quarter 3?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)
Kieran O'Donnell: Is that being prepared by the Department or by the Central Bank?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)
Kieran O'Donnell: The Department is still on track to publish that by quarter 3. That would be very interesting.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)
Kieran O'Donnell: Underpinned.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)
Kieran O'Donnell: It is stated that the national claims information database will be established.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)
Kieran O'Donnell: We are in quarter 2 of 2018. Is that on target?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)
Kieran O'Donnell: Is the empirical work around it substantially completed?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)
Kieran O'Donnell: With the claims?