Results 1,681-1,700 of 23,109 for speaker:Paddy Burke

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: They are the only institutions paying into the resolution fund?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: If things were to go wrong again with the credit unions could they be paid from the EU fund?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: They will keep paying until they have €100 million there, as well as all their other moneys in the banks. Basically, this €100 million will just belong to the credit unions.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: I thank the witness.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: ReBo was set up in 2012 for restructuring. It completed 82 mergers.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: Yes. Payments were made by the Department. It was said the Exchequer paid out €20 million. Was that paid from the resolution fund?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: Is that the resolution restructuring fund?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: That is not taxpayers' money, however. It is not really from the Exchequer.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: By the Exchequer.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: How much did the institutions pay into that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: So the Exchequer put in €250 million.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: Contributions are being received from the institutions.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: Was the pay-out in regard to the credit unions €20 million?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: They have paid back into the resolution fund at this stage more than what it cost.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: Ms Aherne says the cost of restructuring was €20 million in regard to credit unions.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: How much did it cost to restructure the credit unions?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: Was the cost to the credit unions of restructuring and pay-out roughly €20 million?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: So they have paid more than that back. They have paid €25 million back into the resolution fund.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: What happens to the funds, such as the stabilisation fund or the restructuring fund? Is the money just sitting there?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)

Paddy Burke: Is all the money that was in the restructuring fund paid out to various institutions?