Results 14,601-14,620 of 26,043 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: Correct.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: Mr. Blair is probably aware that there is a review of bonuses paid to staff who would have advanced the loans to businesses in this group? Will Ulster Bank Ireland be carrying out a similar review?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: Mr. Blair spoke about the 2,000 customers plus in the Global Restructuring group in Ireland. How many of their loans were sold on to vulture funds? Will Mr. Blair supply the name of the vulture funds?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: Some 90% of the loans were sold on to vulture funds.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: What were the names of the vulture funds?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: Was Goldman Sachs one of them?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: Business people are coming to us about their loans that went into Goldman Sachs. Many of them are under enormous pressure. Were some of those loans performing loans?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: As I understand it, there is a global restructuring group, so that people outside would assume that Ulster Bank Ireland was working through these businesses, yet 90% of the loans were flogged on to vulture funds. The term "global restructuring group" is not an accurate reflection of what was happening. Why did Ulster Bank Ireland sell on its loans to the vulture funds? When did it happen?...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: May I ask the Chairman to communicate with the financial regulator to get an update on their view of this issue?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: In regard to the submission by Ulster Bank Ireland to the Central Bank on the mortgage changes, I want to zone in on one specific issue, that is the loan to income ratio. The standard metric measure being used at present is 3.5 times earnings. I note Mr. Mallon's observations that this is not the most precise tool as an affordability measure and may not be the only metric to use in the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: I have given an example that is becoming more common as the day goes by.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: In layman's terms, will Mr. Stanley describe what the bank will do for a person who has negative equity in an apartment and they are living in a rented house and paying €1,000 a month, which is not uncommon now. What would the bank do in their case? If the apartment were worth €130,000 and they have a mortgage on it of €150,000 and they identify a family home which they...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: Have many of these loans gone through?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: Chairman, on a point of clarification and I am reverting to a previous point, in respect of the global restructuring group, in which 90% of the loans were sold on to vulture fund. What level of discount would have been given generally on the sale of the properties?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: Would it be unreasonable-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: The Chairman took the words out of my mouth.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: How much did Ulster Bank get for that gross debt?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: What was the total level of loans in the restructuring group?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: Would it be reasonable to say that it was probably in the order of €16 or €17 billion?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)
Kieran O'Donnell: Of the €14 billion, would it be unreasonable to say that the discount was of the order of 50% or more?