Results 13,061-13,080 of 26,208 for speaker:Kieran O'Donnell

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: Why was AIB significantly ahead of the other two banks?

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 many borrowers have gained overall from this funding?

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 did that figure break down between the three institutions?

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: What are the non-bank institutions?

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: Did SBCI provide funding in the area of the Anglo Irish Bank and Irish Bank Resolution Corporation, IBRC, bailout?

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: Up to €675 million is provided through the scheme. How can the SBCI be certain that this funding is going to SMEs and not being used as a cheap finance by the institution to prop up its balance sheet? What controls are in place to ensure it is not being used as a method by which the banks can do 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: Is there not a risk that if funds are being advanced to an institution, for example, €200 million, that it improves the institution's balance sheet?

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: What is a tranche, typically?

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: €50 million is a lot of money.

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: Is the new scheme being announced tomorrow?

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 will it differ from previous schemes?

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: Is it the €300 million scheme?

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 Brexit scheme.

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: Can I just follow up? I have a lack of knowledge of what the Strategic Banking Corporation of Ireland, SBCI, actually does. It is a bit too abstract for me, if I am honest. Under the scheme being launched tomorrow, will someone apply to the SBCI first?

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: Let us say SMEs apply for a loan of €250,000. Will they get a formal approval from the SBCI?

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: They go to AIB, Bank of Ireland or Ulster Bank and apply for €250,000. The rate of interest they would be charged by the bank would be a maximum of 4%. What rate does the SBCI provide that to the bank at?

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-----