Results 17,661-17,680 of 35,756 for speaker:Pearse Doherty
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Pearse Doherty: Enforcement action has been taken in respect of two institutions. Was the money taken unlawfully in those cases?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Pearse Doherty: Permanent TSB and Springboard
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Pearse Doherty: Was that money taken------
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Pearse Doherty: Was that unlawful?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Pearse Doherty: Was it against the law?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Pearse Doherty: The Central Bank has said it is trying to use moral suasion. If one closed one's eyes, one could think that it was Mr. Patrick Neary that was sitting before us. The response is that this is about moral suasion, the bank does not have the powers and all the rest. Was the phase two deadline, which was September 2017, moved or extended? Was there an earlier deadline for the completion of...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Pearse Doherty: I refer to the framework for carrying out the tracker mortgage examination which was published in December 2015. It is available on the bank's website. It talks about the framework, examination, what is in scope, the regulatory framework, segmentation, influencing factors, transparency considerations, redress, assurance and then reporting timelines. Paragraph 8.3 states:A final report,...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Pearse Doherty: Does Ms Rowland have the document?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Pearse Doherty: Let us examine this in some detail. First, eight of the financial institutions had not issued a penny in redress by the deadline and, therefore, it is not the case that they were all waiting. Even though they were entitled to and the redress element was supposed to run concurrently, they have simply not done so. Instead, a year into the examination, the Central Bank extended the deadline by...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Pearse Doherty: After the original deadline of 30 September 2016 was not met by the majority of banks, it was extended by another year. One of the few powers the bank has, and is willing to use, is to direct banks to issue reports. In December 2016, the Central Bank did this. It set clear timeframes for phases one and two but despite all what we have heard to the effect that the Central Bank was pushing...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Pearse Doherty: The banks are taking a hand to the Central Bank. In 2010, the Central Bank wrote to the financial institutions on the tracker mortgage issue. It stated that it would take administration sanctions but, seven years on, we still do not know how many people are affected. We know that, seven years after the Central Bank issued the letter, at least 13,000 customers have been identified. The...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Pearse Doherty: I do not have time to tease that out. Had the nine institutions submitted their final report by the original date? Ms Rowland said that no repossessions were allowed to take place in the examination period. I had a lengthy conversation with an individual last night who lost his property on 16 January 2016, at the start of this examination and when the Central Bank told the banks to examine...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Pearse Doherty: The Central Bank is attempting to convince the committee and the public that it is doing everything in its power. Maybe the expectations we have of the Central Bank are unrealistic but if it needs additional powers it would be pushing at an open door and we would provide them. We would welcome any request to this committee in that regard. I cannot understand this for the life of me. This...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Pearse Doherty: So the Central Bank is doing the assurance part of the process where there are two on-site inspections-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Pearse Doherty: In how many of the 15 institutions have we seen the Central Bank go in? A total of 26 individuals being assigned to this task is not enough. I know the Central Bank is under-resourced. More people are working in my corner shop than are working on this €500 million fraud. I feel really sorry for the individuals who have this huge burden of expectation that the Irish public has that...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Pearse Doherty: When did they submit the initial reports?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Pearse Doherty: Were they final submissions?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Pearse Doherty: I have a number of brief questions before we move on to the next session. Regarding decisions taken in the courts, I refer to an example in which an individual decides to take a bank to court. The judge rules that the bank was negligent and took the individual's money - or perhaps a company's money - unlawfully and issues an order that it must restore those funds to the individual. In some...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Pearse Doherty: Yes.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (19 Oct 2017)
Pearse Doherty: I am talking about the public ones.