Results 14,441-14,460 of 26,043 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Statement of Strategy 2017: Department of Finance (19 Jan 2017)
Kieran O'Donnell: There would be a deep reduction in employment, of some 40,000.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Statement of Strategy 2017: Department of Finance (19 Jan 2017)
Kieran O'Donnell: Would those 40,000 come from export-orientated SMEs into the UK?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Statement of Strategy 2017: Department of Finance (19 Jan 2017)
Kieran O'Donnell: Will Brexit have an exponential impact on the SME sector in comparison to others?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Kieran O'Donnell: I thank Professor Lane for coming before the committee. I find it unusual that he has given us a seven page presentation, of which only the last three paragraphs refer to tracker mortgages. This is despite the fact that this is the reason we asked him to come before us today. Why has he given so little time to the issue in his presentation?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Kieran O'Donnell: This issue has been around since 2010. It took the Central Bank until December 2015 to initiate proceedings and a proper review of the area to individual banks.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Kieran O'Donnell: However, the bank did not get going until the end of December 2015 in terms of asking the 15 institutions.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Kieran O'Donnell: A year has now passed since that happened in December 2015. At this moment in time, how many of the 15 institutions have come back and provided the bank with a thorough assessment of where they are at?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Kieran O'Donnell: I am asking the bank as the supervisory authority to tell the committee how many have come back with complete due diligence done in respect of the whole tracker loan book issue.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Kieran O'Donnell: Professor Lane might just state on the public record the number of banks that have come back.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Kieran O'Donnell: With due respect, these are sophisticated institutions with sophisticated IT systems. This is about the rates of interest they charged. In some cases, people lost their homes because of the rates imposed by the banks. As such, the question is why it is taking so long. Does the Central Bank accept that there has been a failure by it to move on the issue in time to get proper redress for...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Kieran O'Donnell: With due respect, that is six years ago. The ordinary person would not be entitled to turn around to a bank and ask if it would give him or her six years to get his or her mortgage up to date. In a lot of cases, the banks have gone in and repossessed these homes. I do not buy that and the ordinary person outside does not buy it. Why was the Central Bank so slow to move and does it accept...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Kieran O'Donnell: With due respect, the Central Bank with its supervisory authority over the individual banks should have known. Does Professor Lane accept that? There are over 8,000 homeowners involved. Does he accept that this has been a failure on the part of the Central Bank because it should have known this was going on given the sheer scale of it? Does he accept that this is a failure of the Central...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Kieran O'Donnell: I am sorry but------
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Kieran O'Donnell: I do not wish to cut across Professor Lane but I have limited time. With due respect, the Central Bank is charged on behalf of citizens to use taxpayers' money to effectively supervise the banks. The banks fell off a cliff in 2008, in a lot of cases due to lack of proper regulation. In 2010, the tracker issue came to the attention of the Central Bank. Professor Lane is saying there was a...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Kieran O'Donnell: Why did the Central Bank not pick up on this more quickly?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Kieran O'Donnell: I have two quick questions. Well, let me put the question in a different way.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Kieran O'Donnell: My final question is when will the Central Bank have this. Does it accept responsibility for this and on what date does it expect this to be resolved? What is the deadline for the banks so that the homeowners will receive proper redress? I ask for a date.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Kieran O'Donnell: I thank the witnesses.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Kieran O'Donnell: We are very much operating in the dark here. Maybe we could suspend for a short period to allow the Central Bank and Professor Lane to provide us with the information around trackers that is in the public domain for 2010 about the various institutions. Maybe he could get that to us now. It might take ten or 15 minutes and it would allow us to then come back and ask questions based on fact....
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)
Kieran O'Donnell: Whatever.