Results 13,861-13,880 of 27,945 for speaker:Michael McGrath

Ceisteanna - Questions (Resumed) - Priority Questions: Tracker Mortgage Data (28 Feb 2017)

Michael McGrath: Just to clarify, there is no deadline on putting customers back on the correct rate. There is a deadline for the banks to complete their assessment of their mortgage books, but we have it in writing from Bank of Ireland that no deadline has been imposed by the Central Bank on putting customers back on the correct rate. The priority now has to be ensuring that customers who were...

Ceisteanna - Questions (Resumed) - Priority Questions: Credit Unions (28 Feb 2017)

Michael McGrath: 38. To ask the Minister for Finance his views on the possibility of larger credit unions becoming involved in mortgage lending in a significant way; if his attention has been drawn to the fact that the current restrictions on long term lending are preventing this; and if he will make a statement on the matter. [10410/17]

Ceisteanna - Questions (Resumed) - Priority Questions: Credit Unions (28 Feb 2017)

Michael McGrath: This question relates to the future of credit unions, in particular the views of the Minister on whether larger credit unions should be given the opportunity to enter the mortgage market in a significant way and provide much needed competition for our banking sector in the provision of residential mortgages.

Ceisteanna - Questions (Resumed) - Priority Questions: Credit Unions (28 Feb 2017)

Michael McGrath: The Central Bank has no interest in assisting credit unions in getting into the mortgage market in any significant way. The Minister mentioned an overall figure of 2.7% of the loan book across the sector being out for a period greater than ten years. The figure is somewhat higher for a number of credit unions, but all it would take is a small number of mortgages for each individual credit...

Ceisteanna - Questions (Resumed) - Priority Questions: Credit Unions (28 Feb 2017)

Michael McGrath: The Minister will have to go beyond not being against it and instead proactively assist credit unions to become involved in the mortgage market. The business model of credit unions is under very significant pressure. They have very poor investment returns and their loan to asset ratio is in the region of 27%. They are feeling the burden of regulation quite severely. The CUAC report...

Ceisteanna - Questions (Resumed) - Priority Questions: Tracker Mortgage Data (28 Feb 2017)

Michael McGrath: A real wrong was perpetrated on people here and that is why Deputies in this House continue to raise the issue. It is not a Mickey Mouse issue. I will bring the Minister's attention to an e-mail we received during the week from a customer of KBC who said that he is paying €600 extra per month above what he should be paying and has been doing so for the last seven years. He has paid,...

Ceisteanna - Questions (Resumed) - Priority Questions: Brexit Issues (28 Feb 2017)

Michael McGrath: I thank the Minister very much for his reply. A number of weeks ago, he spoke about a traffic light-type system, whereby the vast majority of goods going over the Border could be dealt with by way of electronic scanning. He also said that a small percentage of goods going over the Border might be subject to random physical checks. Given that the EU is already trading with third-party...

Ceisteanna - Questions (Resumed) - Priority Questions: Brexit Issues (28 Feb 2017)

Michael McGrath: I thank the Minister for his reply. If the UK leaves the customs union and if there is no agreement on the conduct of trade, then the default position is World Trade Organization terms. That means there will have to be some control in place. It cannot mean there will be nothing in terms of the oversight and regulation of goods going over and back across the Border. We need to know what is...

Ceisteanna - Questions (Resumed) - Priority Questions: Tracker Mortgage Data (28 Feb 2017)

Michael McGrath: 40. To ask the Minister for Finance if he has had discussions with the Central Bank regarding their tracker examination; the status of the reinstatement of the correct tracker rate for the affected customers; if the Central Bank probe will involve examining the way this issue arose across the banks in the first place including, for example, the minutes of meetings; and if he will make a...

Ceisteanna - Questions (Resumed) - Priority Questions: Brexit Issues (28 Feb 2017)

Michael McGrath: 36. To ask the Minister for Finance the customs arrangements that he and his Department expect to apply between the Republic of Ireland and Northern Ireland in the event that the United Kingdom leaves the customs union as part of its exit from the European Union; the impact he expects these customs arrangements will have on trade and the day-to-day movement of persons across the Border; and...

Ceisteanna - Questions (Resumed) - Priority Questions: Brexit Issues (28 Feb 2017)

Michael McGrath: This question follows an exchange we had at the Oireachtas finance committee recently about the nature of the customs border that may emerge, or be agreed, in the context of Brexit. There is a lot of concern on the island, and particularly around the Border counties, about the nature of the Border that will emerge over the course of these discussions if the UK leaves the customs union to...

Written Answers — Department of Finance: Central Bank of Ireland Investigations (28 Feb 2017)

Michael McGrath: 48. To ask the Minister for Finance if he has satisfied himself with the Central Bank's response to a bank's placing of 2,141 SME customers into a global restructuring group (details supplied); his views on whether a formal review is required by the Central Bank to assess whether any SME customers here were inappropriately treated; and if he will make a statement on the matter. [9989/17]

Written Answers — Department of Finance: Credit Union Regulation (28 Feb 2017)

Michael McGrath: 59. To ask the Minister for Finance the status of the work of the implementation group concerning the recommendations of the credit union advisory committee report; and if he will make a statement on the matter. [9991/17]

Written Answers — Department of Finance: Budget 2018 (28 Feb 2017)

Michael McGrath: 64. To ask the Minister for Finance the current estimate of the fiscal space available in budget 2018 net of the carry forward effects from budget 2017 and all known demographic pressures. [9993/17]

Written Answers — Department of Finance: Motor Insurance Regulation (28 Feb 2017)

Michael McGrath: 65. To ask the Minister for Finance the status of the implementation of the motor insurance compensation framework announced by his Department in July 2016. [9992/17]

Written Answers — Department of Finance: Construction Industry (28 Feb 2017)

Michael McGrath: 75. To ask the Minister for Finance the amount of lending carried out by a company (details supplied) to date to the construction sector; his views on whether the State can do more to ensure the construction sector has access to finance to build the required homes and office accommodation here; and if he will make a statement on the matter. [9990/17]

Written Answers — Department of Justice and Equality: Tribunals of Inquiry Data (28 Feb 2017)

Michael McGrath: 168. To ask the Minister for Justice and Equality the tribunals established under the Tribunals of Inquiry (Evidence) Acts, 1921 to 2011, in tabular form; the number of days each tribunal sat; the gross cost of each tribunal; and if she will make a statement on the matter. [10772/17]

Written Answers — Department of Finance: Insurance Compensation Fund (28 Feb 2017)

Michael McGrath: 221. To ask the Minister for Finance the progress that has been made in respect of the liquidation of a company (details supplied); if those caught up in outstanding claims are facing any losses; the role of the insurance compensation fund; the role of the Motor Insurance Bureau of Ireland; the current estimate of the number and value of outstanding claims and the shortfall; and if he will...

Written Answers — Department of Finance: Insurance Compensation Fund (28 Feb 2017)

Michael McGrath: 222. To ask the Minister for Finance the motor insurance compensation framework in place at present in the event of a motor insurance firm being liquidated; and if he will make a statement on the matter. [10002/17]

Written Answers — Department of Finance: Insurance Compensation Fund (28 Feb 2017)

Michael McGrath: 223. To ask the Minister for Finance if he will provide an update on the impact of the collapse of a company (details supplied); if those caught up in outstanding claims are facing any losses; the role of the insurance compensation fund; the role of the Motor Insurance Bureau of Ireland; the current estimate of the number and value of outstanding claims and the shortfall; and if he will make...