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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)

Kieran O'Donnell: If the bank believed that the normal cost of funding on that should be 6%, does the SBCI cover the 2% differential?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)

Kieran O'Donnell: That is what I am more interested in. Explain the 4%. Will the person who qualifies for the loan be charged at 4%?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)

Kieran O'Donnell: If the bank comes back and says that the cost of funding to it - the banks refer to it as a blended cost - is let us say that is 6%-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)

Kieran O'Donnell: I accept that but-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)

Kieran O'Donnell: The witness says 80% of the risk. That means that if the loan defaults, the SBCI covers 80% of the loan.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)

Kieran O'Donnell: Does the SBCI make provisions for bad debts and things like that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)

Kieran O'Donnell: How high would the level of provision have been in 2016 and 2017?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)

Kieran O'Donnell: A final thing-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)

Kieran O'Donnell: If someone avails of the scheme, how can the SBCI ensure that the bank will lend under the scheme? Can the bank turn it down?

Seanad: Commencement Matters: Hospital Accommodation Provision (22 Mar 2018)

Kieran O'Donnell: I thank the Cathaoirleach for allowing me to raise this important matter of concern for the people of Limerick city and county and the wider mid-west region. The issue is the building of a unit with 60 modular beds on the grounds of University Hospital Limerick and I wish to ascertain the measures being put in place to fast-track the planning and procurement stages of the project. The...

Seanad: Commencement Matters: Hospital Accommodation Provision (22 Mar 2018)

Kieran O'Donnell: I thank the Minister of State for her reply. University Hospital Limerick has submitted plans for 60 modular beds. These plans are, I think, with the HSE, which is in discussions with the Department of Health. For me, this matter is very simple. As a public representative in Limerick city, I know what people have had to endure in recent years due to a lack of bed capacity in the mid-west...

Seanad: Commencement Matters: Hospital Accommodation Provision (22 Mar 2018)

Kieran O'Donnell: I thank the Minister of State.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee (22 Mar 2018)

Kieran O'Donnell: Deputy Michael McGrath wishes to make a point.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee (22 Mar 2018)

Kieran O'Donnell: Are members in agreement with that? Agreed. We will suspend briefly to allow the witnesses come in.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)

Kieran O'Donnell: I welcome Mr. Masding and his colleagues. Before we begin, I wish to advise the witnesses that by virtue of section 17(2)(l) of the Defamation Act 2009, witnesses are protected by absolute privilege in respect of their evidence to the joint committee. However, if they are directed by it to cease giving evidence on a particular matter and continue to so do, they are entitled thereafter only...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)

Kieran O'Donnell: We have to conclude by 11.30 a.m., Mr. Masding. It is critical that we get to the heart of the matter. Could you accommodate Deputy McGrath's suggestion by hitting the main points in an abridged fashion so that we can proceed with the questioning?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)

Kieran O'Donnell: I want to take up a couple of points. What is the current status of Project Glas?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)

Kieran O'Donnell: What does that mean?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)

Kieran O'Donnell: How many potential investors have come forward to date?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)

Kieran O'Donnell: How many of those are on site doing due diligence on the loan book?

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