Results 14,361-14,380 of 26,228 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: Was that the case?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: What does the witness mean that UniCredit-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: But the witness's understanding at the time of the 20% breach was that the parent company ought to have been made aware by the CEO.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: The witness would have had no role to make them aware of that. It was to come from the CEO.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Kieran O'Donnell: Finally, at that point with that level of breaches, was there any question of UniCredit - the entity itself in Ireland - being at a stage where it could have gone under?

Seanad: Order of Business (5 Apr 2017)

Kieran O'Donnell: I wish to refer to the Bus Éireann strike. I welcome the fact that talks have resumed at the Workplace Relations Commission between Bus Éireann workers and management in the past hour or two. I wish them well.There are many workers out and they have young families and are under severe financial pressure. Bus Éireann is a huge and vital component of our public transport...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Kieran O'Donnell: I welcome Professor Lane and his colleagues. I want to return to last November when the Central Bank lifted the limit on first-time buyers. If I am correct, prior to that there had been a limit of €220,000 which had been brought in by Professor Lane's predecessor, the loans had to be 90% and for any balance above that there had to be 80%. In November, Professor Lane came along and...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Kieran O'Donnell: Why did Professor Lane go for such an expansive measure? There is now a situation where a person could buy a €1 million home and they could be regarded as a first-time buyer. I am being slightly facetious, but take someone in Dublin looking to buy a €400,000 first-time home and they can look for a loan of 90%. Surely by lifting a complete limit that would effectively add to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Kieran O'Donnell: Surely that would have been a reasonable proposition.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Kieran O'Donnell: I am asking a question. We suddenly had a measure in place by the Central Bank. It was put in place by the predecessor of Mr. Lane. It was a €220,000 limit for first-time buyer with a 90% loan. It was draconian in nature and particularly impacted those in Dublin, more so than outside Dublin. Suddenly, the Central Bank took away any limit. The Central Bank left the loan limit at...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Kieran O'Donnell: Why are house prices going up?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Kieran O'Donnell: What do we do until such a time as supply catches up? There is a major problem with supply. Does the Governor not see his role as ensuring control in the market until such time as that happens? Is the role of the Governor not to ensure that the price of first-time buyer houses, ordinary three-bedroom semi-detached houses, does not go out of control prior to that point?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Kieran O'Donnell: What does Professor Lane regard as a reasonable zone?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Kieran O'Donnell: Let us assume a low interest rate environment continues and that everything is pretty constant barring a rise in the price of houses. At what rate of increase in house prices over the next number of months would the Governor say that we need to change the rules on mortgage lending to ensure the price of houses does not go out of control for the first-time buyer?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Kieran O'Donnell: Professor Lane has said that if the price of houses were to change materially over the year he would go in and effectively change the rules to correct the market. We cannot operate in a vacuum where it is let go for eight months and absolutely nothing is done. The question I am asking is, at what point is there is a material change? Professor Lane is a renowned economist, he understands...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Kieran O'Donnell: Is Professor Lane saying that are no circumstances between now and November under which he would change the mortgage rules to ensure the price of housing does not go out of control? If we see a 7%, 8%, 9% or 10% increase in the price of houses on a monthly or bimonthly basis between now and November, is Professor Lane saying that, as Governor, he will not do anything about that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Kieran O'Donnell: Does that mean he will not do anything between now and November?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Kieran O'Donnell: The Governor said last November that if there was a material change in prices that he would go in and make the necessary changes in the rules to ensure the price of houses would not go out of control. He is now telling me something different and that he will do nothing until November.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Kieran O'Donnell: No, that is not what he said last November.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

Kieran O'Donnell: It is not. He said that he would act if there was a material change in the price of houses. The ordinary person looking in here, who is looking to buy their first home, could possibly be alarmed because they are being told that, regardless of the way the price of houses goes between now and November, the Central Bank, through its Governor, will do absolutely nothing in respect of mortgage...