Results 14,521-14,540 of 27,945 for speaker:Michael McGrath

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Permanent TSB (22 Nov 2016)

Michael McGrath: A total of 49,000 residential mortgage customers still pay an SVR of 4.5%, which equates to approximately one third of the bank's residential mortgage book. I assume many of those customers have a low LTV and could save up to 0.8%. What efforts has the bank made? How many times have they been written to?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Permanent TSB (22 Nov 2016)

Michael McGrath: What has been the level of interaction?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Permanent TSB (22 Nov 2016)

Michael McGrath: Has the bank conducted a profile of the remaining 49,000 customers on an SVR of 4.5%, for example, in respect of their LTV?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Permanent TSB (22 Nov 2016)

Michael McGrath: What is the average amount outstanding on a variable rate mortgage?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Permanent TSB (22 Nov 2016)

Michael McGrath: Why do the witnesses think that many customers who could make an immediate saving have not done so? Some could gain a 0.7% or 0.8% cut immediately in their interest rate, which could make a significant difference to their monthly mortgage repayment. Why are they not doing so? Has the bank surveyed that? Has it any feedback? Is it just inertia on the part of customers?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Permanent TSB (22 Nov 2016)

Michael McGrath: How many of the 49,000 mortgages have an LTV of less than 50%? Would a good proportion of them be old mortgages with a low LTV?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Permanent TSB (22 Nov 2016)

Michael McGrath: The major reform on mortgage pricing was the introduction of the MVR. Why is there not a fixed rate option for existing customers?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Permanent TSB (22 Nov 2016)

Michael McGrath: I welcome that because it is unfair that this option is being denied to the existing customer base. For example, somebody with an LTV of less than 80% can move to an MVR of 4% but cannot avail of a fixed rate of 3.2%, which is available to a new customer. The bank is making a different offering and is discriminating between existing and new customers in respect of their treatment on fixed rates.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Permanent TSB (22 Nov 2016)

Michael McGrath: When that is done, is the bank likely to enable customers to access the same fixed rates or will there be a different tier?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Permanent TSB (22 Nov 2016)

Michael McGrath: With regard to the issue of the tracker redress programme, the bank had identified 1,372 mortgage holders who had to have their tracker rate restored. At what rate was their tracker restored ultimately?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Permanent TSB (22 Nov 2016)

Michael McGrath: I take it that the bank is part of the ongoing Central Bank review of tracker mortgages. Can Mr. Masding give us an update on that? How many mortgage holders might be affected by that review or does Mr. Masding think the bank had identified them all through the bank's internal tracker review programme? When does he expect it to be completed and what if any is the likely financial consequence?

Written Answers — Department of An Taoiseach: Commissions of Investigation (22 Nov 2016)

Michael McGrath: 108. To ask the Taoiseach the costs incurred to date under headings such as office accommodation, legal expenses, salaries and so on for each commission of investigation formally established since 2012 by his Department; the estimated final cost; the expected completion date of the commission. [35651/16]

Written Answers — Department of An Taoiseach: Pension Provisions (22 Nov 2016)

Michael McGrath: 109. To ask the Taoiseach the details of all pension top-ups paid in respect of chief executives of semi-State companies under the aegis of his Department including the name of the organisation; the name of the chief executive; the amount of the top-up; the date of payment; if the top-up was approved by his Department in each of the years 2011 to 2016 to date in tabular form; and if he will...

Written Answers — Department of Justice and Equality: Garda Promotions (22 Nov 2016)

Michael McGrath: 155. To ask the Minister for Justice and Equality if she plans to proceed with the appointment of those Garda inspectors who have been selected for promotion and who are currently waiting on the list for promotion to the rank of superintendent. [36273/16]

Written Answers — Department of Finance: Ireland Strategic Investment Fund Management (22 Nov 2016)

Michael McGrath: 175. To ask the Minister for Finance the detail of the operation to date of the activate capital fund administered by the ISIF; the number and value of individual loans approved and drawn down to date; the current cost of funding for the borrower availing of credit under the funding stream; his plans to improve the terms of the fund for the borrower; his further plans to extend the scheme to...

Written Answers — Department of Finance: VAT Exemptions (22 Nov 2016)

Michael McGrath: 178. To ask the Minister for Finance further to Parliamentary Question No. 130 of 10 November 2016, if there is guidance available to those providing gymnastics lessons on the specific standards as set out by the Department of Education and Skills in the school syllabus for primary or secondary level schools that must be met in order to qualify for the VAT exemption; if the exemption can...

Written Answers — Department of Finance: State Banking Sector (22 Nov 2016)

Michael McGrath: 179. To ask the Minister for Finance his plans for the sale of a stake in a bank (details supplied); if he expects the environment to improve in the next 12 to 18 months to facilitate a sale of the bank; and if he will make a statement on the matter. [36097/16]

Written Answers — Department of Finance: Corporation Tax Regime (22 Nov 2016)

Michael McGrath: 180. To ask the Minister for Finance his views on the potential impacts on corporation tax revenue if the United States of America was to reduce its rate of corporation tax to 15%; and if he will make a statement on the matter. [36098/16]

Written Answers — Department of Finance: Common Consolidated Corporate Tax Base Proposals (22 Nov 2016)

Michael McGrath: 181. To ask the Minister for Finance his views on the European Commission's revised proposals for a common consolidated corporate tax base; the way he expects this proposal would affect corporation tax revenue if it were fully implemented; and if he will make a statement on the matter. [36099/16]

Written Answers — Department of Finance: Small and Medium Enterprises Debt (22 Nov 2016)

Michael McGrath: 182. To ask the Minister for Finance if there are any initiatives to assist SMEs here struggling with currency fluctuations to avail of hedging services (details supplied); and if he will make a statement on the matter. [36100/16]