Results 13,621-13,640 of 26,037 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Kieran O'Donnell: There is. Professor Lane is saying that if the Central Bank identifies a cohort of impacted on customers and the banks do not agree, the only recourse is to tell them to write to the individual customers.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Kieran O'Donnell: I understand that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Kieran O'Donnell: No, in the limited time available, does the Central Bank have the power to dictate to the banks on the other cohort? Some claim that it could involve up to 30,000 cases, which means that there could be an extra 10,000 or more cases on the existing 13,000. Does the Central Bank have the power to tell the banks to deal with that group of customers?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Kieran O'Donnell: When will the Central Bank insist on the banks writing to the customers who have been impacted on?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Kieran O'Donnell: What is the deadline date?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Kieran O'Donnell: Will they be written to by the end of the year?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Kieran O'Donnell: Will that happen by the end of the year?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Kieran O'Donnell: It was reported in the media this morning that the two institutions with which the Central Bank was having difficulty were Bank of Ireland and KBC. Is that the case?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Kieran O'Donnell: Is Professor Lane denying it?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Kieran O'Donnell: In his updated report Professor Lane stated engagement with other bodies on tracker mortgage-related issues continued as appropriate and that since the March report, the Central Bank had also met the Competition and Consumer Protection Commission and An Garda Síochána. Has the Central Bank made formal complaints to An Garda Síochána about criminal activitiesin specific...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Kieran O'Donnell: Have they brought any information to the Central Bank's attention?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Kieran O'Donnell: Does the Central Bank anticipate that it will be making section 33AK reports to An Garda Síochána?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Kieran O'Donnell: On the €120 million being provided by way of redress and compensation, what is the breakdown between redress and compensation?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Kieran O'Donnell: Professor Lane disclosed the total amount, which is €120 million. I would like to know the compensation amount as a percentage of the redress amount.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Kieran O'Donnell: It is critical that we get that breakdown. Based on all of the discussion on this issue, it appears as though the compensation amount is approximately 10% of the redress amount. Perhaps Professor Lane would deliberate on the issue with his colleagues while I am asking my other questions.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Kieran O'Donnell: Taking it in crude terms, the total is €120 million and there are 3,300 customers involved, which equates to approximately €36,500 per customer.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Kieran O'Donnell: I accept that. To put it in context, it is above the average industrial wage, which shows the magnitude of this particular rip-off by the banks. I would like to discuss a number of issues with Ms Rowland. There are 15 banks involved, all of which came back with proposals by 30 September. The Central Bank has deemed 11 of those banks to have been providers of tracker mortgages. Is that...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Kieran O'Donnell: Am I correct also that the Central Bank has carried out on-site inspections of two of the 11 banks?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Kieran O'Donnell: Are the two banks that have been inspected the same two banks with which the Central Bank is in dispute?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Kieran O'Donnell: Was there a particular reason the Central Bank chose to inspect those two banks first?