Results 13,021-13,040 of 16,492 for speaker:Ciarán Lynch

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: Deputy Mathews's time has expired.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: With regard to two banks that have been capitalised by the State, I am at a loss to understand why one can give us information -----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: I was about to bring Deputy Mathews in on this. He has just under ten minutes to contribute.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: To what exactly is Deputy Mathews referring there?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: As part of the recapitalisation, how much money did Bank of Ireland receive to deal with distressed mortgages or mortgage losses? A specific sum was given to write off mortgage losses and debt. How much did the bank receive?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: None at all? As part of the recapitalisation of the banks?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: No - I am talking about the recapitalisation process following the last stress test.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: Following the last stress test, recapitalisation took place that took into account losses in the mortgage market. Is that not correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: Potential losses that would be incurred.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: No, but it was allocated for losses.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: If a mortgage collapses, it is a loss and may be a write-off under the forthcoming insolvency legislation.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: On that basis, I am at a loss. Bank of Ireland might be structurally different from AIB, but although we asked the bank to provide the committee with specific information on questions 13, 15 and 16, Bank of Ireland refused to give us that information, saying it could be sourced elsewhere or that it would not give us that information. Putting it simply, if the State had not stepped in, Bank...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: This information was given without question by AIB yesterday afternoon and it would have the same commercial sensitivities in the open market.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: AIB was given the exact same questions as Bank of Ireland.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: In respect of the mortgage-to-buy scheme, a request was put to Allied Irish Banks yesterday, and I would be grateful if Mr. Boucher could facilitate this committee and provide it with an update at year's end as to the latest figures for the mortgage-to-rent scheme, if that is possible.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: We just want the figures as to how many of them have actually been completed. It will become a matter of public record one way or another, but I would be grateful if Mr. Boucher could facilitate the committee.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: I have one other item before I bring in Deputy Higgins. The issue of cash transactions also came up with AIB yesterday. I am referring to the financial connection points that companies have where one brings one's debit or credit card to a retail outlet like a shoe shop. Does Bank of Ireland provide that service to a number of retail customers throughout the country?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: To how many outlets does Bank of Ireland provide that service?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: Yes. It looks like a mobile phone. One puts one's credit or debit card into the end of it and pays one's bill.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Discussion with Bank of Ireland (1 Nov 2012)

Ciarán Lynch: Did Bank of Ireland at one stage provide that service directly?