Results 15,881-15,900 of 35,756 for speaker:Pearse Doherty
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)
Pearse Doherty: How much of the funding has it drawn down? Is it roughly the same? Is is about half?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)
Pearse Doherty: I know but this is State money that we want to go into the market so-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)
Pearse Doherty: ----we need to be assured that money being loaned to lenders is actually being utilised and not-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)
Pearse Doherty: I refer to applicants who apply to the SBCI. Does the SBCI insist that each company has €10 million in equity?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)
Pearse Doherty: Has the SBCI ever insisted to an applicant that there would be €10 million in equity?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)
Pearse Doherty: Has the SBCI ever said that it is a condition that there would be €10 million in equity?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)
Pearse Doherty: The SBCI may have given an example but it has never requested that to be a condition for any applicant.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)
Pearse Doherty: Has the SBCI ever suggested that their accounts had to be audited by one of the larger financial accountancy firms, that is, one of the big four or five? Is that a condition?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)
Pearse Doherty: Was it ever a condition?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)
Pearse Doherty: It was never suggested. Presenting a full business plan is a condition unless the applicant is a bank. That is quite clear. What ex-postmonitoring of funding provided has been carried out?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)
Pearse Doherty: Mr. Ashmore has given the committee a scale of the loans, some 22,000 loans and so on, which is impressive. Can he give a breakdown based on the companies? For example, for the €70 million that was provided to FEXCO Asset Finance, how many loans, leases or so on were issued as a result of that? Can he indicate the same for Bibby Financial Services, Finance Ireland and for First...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)
Pearse Doherty: How do we know they have not just used that to clear up the balance sheets of their financial institutions?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)
Pearse Doherty: How can we as a committee make sure that the SBCI is making sure of that?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)
Pearse Doherty: How much did it cost the Comptroller and Auditor General to carry out an audit of the SBCI?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)
Pearse Doherty: Let us deal with the Comptroller and Auditor General's audit. His office charged €20,000 to audit the SBCI, which has €980 million in lending. That cannot be done. A wee charity shop down the road would be charged €3,000 for an audit and it would not be making a profit. There is no way-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)
Pearse Doherty: But it is the picture that provides us with a-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)
Pearse Doherty: How is the Comptroller and Auditor General able to do an audit of the SBCI, which has nearly €1 billion in lending, for €20,000? I find that astonishing. The Comptroller and Auditor General is obviously not looking at the accounts of the companies that the SBCI is-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)
Pearse Doherty: It was €27,000.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)
Pearse Doherty: Will it look at, for example, the accounts of the company to which the SBCI lent the money? For example, will it look to see that the company did not use the money the SBCI lent on behalf of the State to write down a debt to its parent company?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations: Strategic Banking Corporation of Ireland (27 Mar 2018)
Pearse Doherty: Is the SBCI's internal auditor also auditing the accounts of the companies to which it is lending?