Results 13,281-13,300 of 26,042 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Kieran O'Donnell: There is an element of "the dog ate my homework". It is an incredibly large institution. How many solicitors are employed in AIB? Typically, how many are employed in-house?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Kieran O'Donnell: Mr. Byrne is saying that someone looking in-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Kieran O'Donnell: I have no doubt there were still 50, 60 or 70.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Kieran O'Donnell: Either way, I know from dealing with the banks over the years that no one is more conversant in the detail of a contract than a bank. I do not buy that argument. I do not buy that the bank did not have a record of the commitments and obligations of the banks. If the banks were enforcing them with customers, they would have them in chapter and verse. It has echoes of "the dog ate my...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Kieran O'Donnell: We need to clarify with the Central Bank whether the figure we were provided with, which was 33,700, includes the 4,900 - the 4,000 customers, which was the cohort getting a voucher for €1,000, and the 9,00 customers who will receive redress and compensation. If that is the case, the 4,000 and the 900, which adds up to 4,900, is a higher figure than the total number of customers that...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Kieran O'Donnell: Mr. Byrne believes they are included in the 33,700.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Kieran O'Donnell: Is Mr. Byrne saying that of the 33,700, nearly 9,400, which is roughly 30%, relate to AIB?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Kieran O'Donnell: We were told by the Governor of the Central Bank that the normal compensation was on average 15% of the overall allocation. That cohort of 4,000 signed up for a contract in which one of the conditions was they could return to the prevailing tracker rate at the end of the fixed rate.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Kieran O'Donnell: Surely it is a breach of contract on behalf of the bank if the tracker rate is not there when they come off their fixed rate.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Kieran O'Donnell: Can I reconcile a figure? I presume Mr. Byrne was talking about 2008 when he said in his presentation that "Contrary to a widely held view, approximately 104,000 AIB and Educational Building Society, EBS, customer accounts, which at the time of the decision were on tracker mortgage...".
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Kieran O'Donnell: What was the peak number of customer accounts on tracker mortgages? Is that with AIB? What was the peak figure between 2002 and 2008?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Kieran O'Donnell: Will Mr. Byrne explain to me why the bank conducted an analysis of 650,000 accounts? Will he explain why it was looking at that number of accounts when Mr. Byrne is saying the largest figure on trackers is about 104,000?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Kieran O'Donnell: That was narrowed down to a cohort of 50,000. At this point in time, apart from the 9,348 that have been identified here, will there be any more people that were affected by the tracker issue that will be found under this investigation?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Kieran O'Donnell: Does Mr. Byrne believe the 4,900 to be the maximum figure?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Kieran O'Donnell: Does Mr. Byrne see any additional customers beside the 4,900 of that cohort?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Kieran O'Donnell: Is it materially accurate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Kieran O'Donnell: I want to deal with the cultural aspect of AIB. Did AIB engage in reckless lending in the period up to 2008?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Kieran O'Donnell: I was a member of it. There is a context to my question. Perhaps Mr. Byrne would give me his overview on it because I want to proceed to dealing with customers and get a flavour of the position on provisioning for loans. Does Mr. Byrne believe the bank engaged in reckless lending up to 2008?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Kieran O'Donnell: Does Mr. Byrne believe the bank engaged in excessive property lending?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Kieran O'Donnell: One of the ways that is manifesting itself is in the SME sector, in particular. Many SMEs were given loans by AIB and other institutions. Effectively, they borrowed on the strength of their core business but went into property. The weight of the debt on the property side is leading to haemorrhaging for many in the SME and farming sectors. What type of provisioning has AIB carried out...