Results 1,701-1,720 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: There is only €20 million gone from the 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: A total of €230 million euro is 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: What is that for? Is it for future restructuring?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Paddy Burke: The total payout for the restructuring of all the credit unions was €20 million. Is that right?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Paddy Burke: Why would there have been €250 million put in? Was it for institutions in addition to the credit unions or was it specifically for 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: How did the Department get that so wrong?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Paddy Burke: Is it correct that the credit institutions resolution fund, which was supposed to have €100 million in it, now has €250 million in it?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Paddy Burke: Credit unions have experienced bad publicity over the years. My understanding from the information provided by the officials is that credit unions paid €30 million into the stabilisation fund, of which €20 million or €30 million has been used. This means the credit unions have not cost anything. Is that the case?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Paddy Burke: I do not see how it is a credit to the regulator.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Paddy Burke: The credit unions did not cost the State one cent in the crash.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Paddy Burke: The credit unions were on their hands and knees. They work with their arms behind their back, but we will not facilitate them, either through legislation, regulation or an investment of money. It is crazy.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Paddy Burke: I appreciate that, but if a bank was in the same position, everything would be turned over for it.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Paddy Burke: Deputy Sean Sherlock made a fair assessment when he said-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Paddy Burke: -----they took the money.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Paddy Burke: I welcome the registrar and her staff here today. We had very interesting meetings with the credit unions last week and with the Department of Finance this morning. The Chairman has alluded to what the credit unions said to us last week - that they seem to be getting the run-around and they are going from pillar to jack. They are going to the registrar, to the Central Bank and to the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Paddy Burke: The Department of Finance's representatives appeared before the joint committee this morning and they said something similar to the registrar. There are very few places where the credit unions can put the €10 billion or €11 billion that they have on deposit other than in the banks. The registrar would seem to be saying the same, that she is very worried as to where it might be...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Paddy Burke: Does the registrar think the 1997 Act should be changed to give more flexibility to the credit unions with regard to their investments?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Paddy Burke: Are those ministerial regulations or are they regulations from the Central Bank?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Paddy Burke: The regulations were formulated as a result of legislation passed by the Houses of the Oireachtas. The Minister makes regulations, but in this case the regulations were made by the Central Bank.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Paddy Burke: The Central Bank consults on making the regulations.