Results 13,661-13,680 of 26,043 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: Then there would be no on-site inspection.

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 involve looking at the minutes of board meetings?

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 Professor Lane accept that he believes there will be a substantial number of impacted on tracker mortgages which the banks have yet to agree on or identify?

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 have been critical of the fact that the Central Bank has come to the table very late. It issued warning letters to the banks as far back as 2008 about how they had dealt with tracker mortgages. It issued notice letters and carried out various investigations with the Bank of Ireland and permanent tsb during the years. That is as it may be, but if this investigation had not been carried...

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 it not fair to say the banks would have stated "See no evil; hear no evil; speak no evil"? This scandal would have gone into the annals and remained hidden for decades.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)

Kieran O'Donnell: Did the Central Bank ever look at doing it using a universal standard? Redress should be standard, because redress is basically putting people in the position they had been in. It should be cut and dried. It should be based on the rate they should have been on versus the rate they were on. It should be straightforward. Compensation is more arbitrary. Did the Central Bank not consider...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)

Kieran O'Donnell: Yet the Central Bank would have to approve any scheme the banks put forward. Such schemes have to get the approval of the Central Bank. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)

Kieran O'Donnell: If a bank comes up with a proposal and the amount being put forward for compensation is derisory, will the Central Bank tell that bank as much?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)

Kieran O'Donnell: Yet, there is a threshold below which the Central Bank will not allow it. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)

Kieran O'Donnell: Good.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)

Kieran O'Donnell: Let us go on to the appeal mechanism. That will be within each bank itself. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)

Kieran O'Donnell: Who sits on the appeals body?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)

Kieran O'Donnell: Who sits on 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: Will there be anyone from the bank itself sitting on that board?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)

Kieran O'Donnell: Such people will not be the majority. Is that correct?

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 have two final questions. The Central Bank set a deadline for phase 2 for the banks to put in proposals. Yet it set no deadline for phase 3, which covers redress, or phase 4, which covers compensation. Why not?

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 that not a weakness in legislation and Central Bank policy?

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 it fair to say that if someone-----

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 there any deadlines for redress?

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 are they?