Results 15,661-15,680 of 34,664 for speaker:Seán Fleming

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: Exactly.

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: Was that terminated ultimately on the payment?

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: It was a temporary increase in euros.

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: The committee should be provided with a note on when the increase was temporary.

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: Was that information in the Comptroller and Auditor General's special report?

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: In any event, it can be called up. We will keep going, but I think the Comptroller and Auditor General covered that in the previous special report on NAMA. I am sure the information is in it. That will follow. The Deputy can come back in.

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: I think it is available through the Comptroller and Auditor General's previous report. Before we looked at NAMA, he did a report.

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: I asked how many whole-time staff were involved in the Department's monitoring of the liquidation process. The witnesses were busy telling us what a great job they were doing protecting the taxpayer. I asked for an indication of how many people were doing that and they said it was basically two and maybe a solicitor because of the court cases. Our view was that it was quite light.

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: Mr. Carville should address that issue. I know that he cannot tell us everything, but he must say if he will disclose much more information.

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: The following have indicated in the following order for a shorter second round: Deputies Murphy, Connolly and Cullinane. We will try to move proceedings on.

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: Do the banks-----

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: The employee pays his or her own-----

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: When?

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: Is Mr. Rankin saying there was a fear the State would default with the troika in the country?

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: Yes, but that is not default. Mr. Rankin was talking about defaulting with the troika in town.

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: Can you send that booklet to the committee?

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: Can the Deputy liaise with the secretariat to crystalise the precise request? I know what the Deputy is asking.

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: We need an exact wording but we understand the request. Before the witnesses leave I want to address two things. The promissory note covered ten years and it had seven or eight years left when it became a sovereign bond. When that happened we were told how much we would save in the next ten years because of the reduced interest rate. However, that was only part of the picture. The...

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: The life of the sovereign bond, which is part of our national debt, carries on for a longer period than the life of the promissory note. Can the witness send us a note? He does not need to answer today. Is the estimated interest over the 35 year period?

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: What is the situation given current assumptions?