Results 14,521-14,540 of 26,043 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Kieran O'Donnell: Is the Central Bank seeking to do a report or review on that in a number of months time?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Kieran O'Donnell: Where does Mr. Sibley see the mortgage market in Ireland over the next three years in terms of competition, new entrants, and the profile of mortgages - tracker versus variable? Does he believe that the current banking institutions in Ireland have the financial fitness to be able to lend the appropriate amount of loans? We have a major shortage of homes in this country. I note that at the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Kieran O'Donnell: It is a relevant question.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Kieran O'Donnell: When does the Central Bank expect to conclude that work?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Kieran O'Donnell: Thank you. I look forward to the Central Bank's analysis of how mortgages purchased by vulture funds are working. We will bring it back before the committee because there appears to be a major gap or shortfall for mortgage holders whose mortgages are now held by vulture funds. Although the terms and conditions should follow the emphasis is on enforceability. People are coming to us about...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Kieran O'Donnell: I thank Senator Burke. Deputy Michael McGrath to conclude.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Kieran O'Donnell: It is the Deputy's Bill.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Kieran O'Donnell: Fine. The Deputy has that flexibility.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Kieran O'Donnell: Are they regulated? Is the same level of control applied to their business activities as to normal institutions?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Kieran O'Donnell: There is no difference.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Kieran O'Donnell: I am talking about prudential regulation.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Kieran O'Donnell: Is that into less regulation?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Kieran O'Donnell: Typically, how often is the Central Bank in with the larger banks? Is it on premises at all times?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Kieran O'Donnell: With what has traditionally been regarded as sub-prime but in respect of which there is a slightly different incarnation now, how often is the Central Bank in there?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Kieran O'Donnell: What does "thematic" mean?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Kieran O'Donnell: With respect, the Central Bank does not have the teeth to enforce those codes against a vulture fund. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Kieran O'Donnell: If policy, lending practice and interest rates are dictated to the intermediary managing the loans on behalf of the vulture fund and an issue arises, the Central Bank can deal with the representative or agency in Ireland but cannot enforce any of the codes against the vulture fund.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Kieran O'Donnell: That puts the lender, be it a mortgage holder, home owner or small or medium enterprise, in the lap of the Gods, depending on to whom the loan is sold. This area also appears to be unregulated. If a loan is sold to a vulture fund and it decides to flip it on to another vulture fund, my understanding is that the Central Bank has no part to play in that process. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Kieran O'Donnell: Are there any other jurisdictions in which a central bank is able to regulate vulture funds outside the jurisdiction?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Taxation Matters Relating to Kerry Co-Operative: Revenue Commissioners. (7 Dec 2016)

Kieran O'Donnell: I welcome the witnesses from Office of the Revenue Commissioners and thank them for appearing before us. I am based in Limerick where many farmers who supply to Kerry Co-operative received these letters out of the blue. The first patronage shares were issued back in 1997, 19 years ago. Yet, the issue has just come out of the blue. The question now is, why? I wish to raise a number of...