Results 19,001-19,020 of 26,053 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)
Kieran O'Donnell: Briefly, if one looks across the market here, the variable rates are more or less the same with all the banks. However, AIB has given a reduction of 25 basis points or 0.25%. This is a significant reduction for an individual. Why is Bank of Ireland not doing so?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)
Kieran O'Donnell: It is the same cost of money in the North as down here.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)
Kieran O'Donnell: I welcome Mr. Boucher and his colleagues. Given the importance of having a functioning banking system, I welcome Bank of Ireland's recovery and return to profit. To take up Deputy Michael McGrath's point on interest rates and charges, an examination of the figures indicates that the standard variable rate across the Bank of Ireland group is approximately 4.5%. Is that figure correct? I...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)
Kieran O'Donnell: The figure is in or around 4.5%.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)
Kieran O'Donnell: The point I am making is that the variable rates Bank of Ireland is charging first-time mortgage holders here and in the North are more or less comparable.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)
Kieran O'Donnell: The two year fixed rate for a mortgage with a loan-to-value ratio of greater than 75% is 4.35% in the Republic and 2.09% in the North. Why is the rate charged in the North less than half the rate charged here? Is it the result of the lack of competition in the market in the Republic? Bank of Ireland and Allied Irish Banks control a large part of the residential mortgage book in Ireland....
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-ECOFIN Briefing: Minister for Finance (4 Nov 2014)
Kieran O'Donnell: I want to address a couple of points. I note that in the October meeting, ECOFIN discussed the issue around the bank, banking union and the bank recapitalisation. Developing on what he has already discussed with Deputy McGrath, what are the Minister's thoughts on the process that would be involved in terms of Ireland getting to the point of making an application for retroactive...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-ECOFIN Briefing: Minister for Finance (4 Nov 2014)
Kieran O'Donnell: To be more specific, direct recapitalisation in terms of current activities for banks appears to be relatively straightforward. I wish to deal specifically with the Irish situation, our banks being in a sound position, and the possibility of retroactive recapitalisation. If that were to become an option, what is the process the Minister sees developing in Europe? Guidelines have been put...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-ECOFIN Briefing: Minister for Finance (4 Nov 2014)
Kieran O'Donnell: The Minister explained that well at the previous meeting. I wish to deal specifically with the retroactive issue, because the Minister went through that other issue in great depth at our previous meeting on this topic. More specifically on the retroactive aspect, which is obviously-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-ECOFIN Briefing: Minister for Finance (4 Nov 2014)
Kieran O'Donnell: Does the Minister anticipate-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-ECOFIN Briefing: Minister for Finance (4 Nov 2014)
Kieran O'Donnell: Does the Minister consider it possible, and he will be looking at it in the margins, to give an indication of a timeframe at this point?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-ECOFIN Briefing: Minister for Finance (4 Nov 2014)
Kieran O'Donnell: Is that because these processes take time in terms of discussions?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-ECOFIN Briefing: Minister for Finance (4 Nov 2014)
Kieran O'Donnell: I am looking at it specifically in the context of what is up for discussion and the Minister is saying he is having discussions on the margins.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-ECOFIN Briefing: Minister for Finance (4 Nov 2014)
Kieran O'Donnell: Conversations on the margins then. I wish to move on to the issue of revision of VAT and gross national income, GNI, own resources balances from 1995 to 2013. Will this particular proposal have an impact on Ireland's contribution to the EU budget? What is the update on that?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-ECOFIN Briefing: Minister for Finance (4 Nov 2014)
Kieran O'Donnell: In layman's terms, the Minister believes the way it has been calculated is correct but in terms of the time period over which it is paid, the Minister has an open mind.
- Public Accounts Committee: Business of Committee (23 Oct 2014)
Kieran O'Donnell: I ask that CER is put on our schedule, as a matter of urgency, in the context of charges in respect of Irish Water and the commission's work in that area. My queries relate to the area of Irish Water. The Commission for Energy Regulation falls directly under the remit of this committee. I do not know how my colleagues feel but I ask that an immediate invitation is extended to the CER to...
- Public Accounts Committee: Business of Committee (23 Oct 2014)
Kieran O'Donnell: In the context of the work programme - it may have come already but at the risk of repeating - when is the Commission for Energy Regulation due to come before the committee?
- Public Accounts Committee: Business of Committee (23 Oct 2014)
Kieran O'Donnell: It was two years.
- Public Accounts Committee: Business of Committee (23 Oct 2014)
Kieran O'Donnell: Would the witness agree that a timeframe of six years before the audit was concluded for the 2008 accounts was not good?
- Public Accounts Committee: Business of Committee (23 Oct 2014)
Kieran O'Donnell: The final point is one which arose at the last committee meeting. In future, when the Comptroller and Auditor General is doing an annual report, it is important that audits that are ongoing would be highlighted so we can be made aware of audits that are ongoing for six years. If that happened in the private sector, companies would be struck off and gone.