Results 15,261-15,280 of 26,228 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)
Kieran O'Donnell: This is my final question.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)
Kieran O'Donnell: From now on, will there be a large sell-off of portfolio of loans?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)
Kieran O'Donnell: We can pair among ourselves here.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)
Kieran O'Donnell: In her presentation Ms McKiernan stated: "The key indicator of sector growth potential – the loan-to-asset ratio - has fallen to 28% from its 2008 level of 52%." What loan-to-asset ratio does she believe a credit union should have to ensure it is viable in the long term?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)
Kieran O'Donnell: I have dealt with credit unions on a professional level for many years and have great time for them. They kept small businesses operating in instances where the banks would not give them funding. They have cost the State €20 million to date, while the gross cost to it of bailing out the banks to date has been €64 billion. Anglo Irish Bank will cost us €30 billion, yet...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)
Kieran O'Donnell: What does Ms McKiernan regard as being their core lending in terms of the nature and period of such lending? What does she, as regulator, regard as core?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)
Kieran O'Donnell: What does Ms McKiernan define as "short-term"?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)
Kieran O'Donnell: Does Ms McKiernan think it valid to state that the restrictions being put in place will, by stealth, force credit unions to amalgamate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)
Kieran O'Donnell: Has it been looked at-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)
Kieran O'Donnell: I am limited in terms of time. I understand what is being said but has the registrar examined the possibility of providing back-up services? The credit union movement is based on community. A person is able to go to the local credit union and deal with someone he or she knows. In my experience, most people want to repay their credit union loans. My worry is that credit unions will get...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)
Kieran O'Donnell: Correct.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)
Kieran O'Donnell: I will conclude on this point. The credit unions will not be able to grow their loan books unless the restrictions are somewhat lifted. How can we get to a point where the registry will feel comfortable enough to lift the restrictions so that they can grow their balance sheets again? They are currently shrinking and if that process continues, they will not survive.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)
Kieran O'Donnell: Good.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (Resumed) (16 Dec 2015)
Kieran O'Donnell: I thank Ms McKiernan.
- Credit Union Sector: Motion (Resumed) [Private Members] (25 Nov 2015)
Kieran O'Donnell: I am pleased to speak on this Private Members' motion. I have been a long-time supporter of the credit union movement, which does fantastic work. Working as an accountant prior to entering the Dáil, I dealt with a range of people providing services in the credit union movement. Credit unions operate in every town, village and parish and during the difficult times when the banks were...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (25 Nov 2015)
Kieran O'Donnell: What percentage of the income of an average credit union was traditionally from savers' money on deposit? What percentage came from loans to customers? Has it changed?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (25 Nov 2015)
Kieran O'Donnell: By how much?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (25 Nov 2015)
Kieran O'Donnell: A ratio of 70:30.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (25 Nov 2015)
Kieran O'Donnell: My question really relates to the practical model for keeping credit unions viable. What is the percentage of deposits over €100,000?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Credit Union Sector: Discussion (25 Nov 2015)
Kieran O'Donnell: Is this regarded as a reputational issue in terms of the limit of €100,000? With a view to having a sustainable model for credit unions, what are the current policies or changes that need to be made to provide a credit union with a balance sheet that is solvent and profitable, that can result in the paying of a dividend to members and that allows for lending to individuals and small...