Results 13,241-13,260 of 26,042 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)
Kieran O'Donnell: I welcome Ms McDonagh and her colleagues. I wish to clarify some points. I realise Ms McDonagh is new to her role but she certainly is not new to the banking world. She was head of retail banking in HSBC in the UK for a number of years. She said earlier that the tracker product was not a viable product for the bank in 2008. That is not the issue at hand. Nobody is questioning whether...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)
Kieran O'Donnell: Were the 6,000 customers a homogenous group or were there different sub-groups that did and did not qualify?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)
Kieran O'Donnell: I do not want gory details, just summary details.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)
Kieran O'Donnell: Did the previous group of 3,400 customers include any staff?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)
Kieran O'Donnell: How many staff were involved in the 6,000?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)
Kieran O'Donnell: It is a very high figure. What is the total number of staff? How many staff would have mortgages from Bank of Ireland?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)
Kieran O'Donnell: It appears to be a very high figure. Many of the trends coming through here are almost identical to those in AIB. It is virtually the same number. There is the same number of customers brought in at the end. AIB brought in a large segment as well. The two banks have provided roughly the same provision. Bank of Ireland is providing up to €200 million-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)
Kieran O'Donnell: AIB is providing €190 million. Both banks discontinued the trackers at the same time. Ms McDonagh was head of retail banking in HSBC in the UK and Europe. Was she surprised when she arrived at how the tracker issue had been dealt with? She might elaborate on that in the context of her comment that the bank should have dealt with it quicker. I am paraphrasing, but that is the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)
Kieran O'Donnell: Of the 6,000 customers, some 1,850 - nearly one third - were members of staff. Is it not an indictment of Bank of Ireland as an institution that to a certain extent it had to be dragged kicking and screaming to include the 6,000 customers, of whom nearly one third were staff, in the redress scheme?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)
Kieran O'Donnell: I have further questions. Of the €68 million that has been paid out so far, what is the breakdown between redress and compensation?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)
Kieran O'Donnell: The average for redress is about 13%.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)
Kieran O'Donnell: What is the maximum payment that Bank of Ireland has paid in redress and compensation?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)
Kieran O'Donnell: Would Ms McDonagh give a breakdown between redress and compensation?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)
Kieran O'Donnell: Was that paid to somebody who lost his or her home?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)
Kieran O'Donnell: Of the 9,400 customers in total, how many remain to be paid under the redress and compensation scheme?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)
Kieran O'Donnell: As a rough rule of thumb, some 3,400 customers have yet to be paid under the redress and compensation scheme. Is that correct?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)
Kieran O'Donnell: Have all customers received the letter?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)
Kieran O'Donnell: When does Ms McDonagh expect to have paid out full redress and compensation to all affected mortgage customers?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)
Kieran O'Donnell: Am I correct in saying that originally, Bank of Ireland gave a commitment to the Central Bank of Ireland that it expected to have virtually all customers sorted out by the end of the year 2017?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Bank of Ireland (30 Jan 2018)
Kieran O'Donnell: Why were those 6,000 customers not identified in the initial trawl by Bank of Ireland?