Results 221-240 of 1,974 for speaker:Arthur Spring
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: The witness would acknowledge that the value of property increasing is increasing the value of the bank ultimately.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: We had Ulster Bank here earlier saying the money it is currently providing for site finance and working capital for new home development is about 10% of what it was providing at the height of the boom. If every bank applied that, we would have about 8,000 houses built a year, less than half of where the market is at. I want to know what Bank of Ireland is currently providing for site...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: I have gone through this, and in respect of SMEs Bank of Ireland has €9.6 billion out. The €250 million to €500 million-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: I understand. How many houses would Mr. Boucher foresee being built with the backing of Bank of Ireland? Can we do the quick math on that?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: Is site finance built into that or is it just working capital?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: What is the bank's prerogative on supply and demand in mortgages?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: If an individual had 50% pre-sales, would the bank change its rules on working capital?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: If I may say so, it is making it very difficult for the market to catch up with demand. The banks do not seem to be engaging on this at all. We are hearing that between 15,000 and 20,000 houses need to be built per annum and what I can glean from the banks thus far is that this is not the role they want the property market to play in their business.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: I am aware of that. What I am concerned about is people who are trying to get on the ladder. The 80% loan-to-value, LTV, ratio and the decrease on the affordability cash flow means that the price of housing is beyond the reach of many people. Supply is probably the biggest way of correcting that as it would create competition within the market, as Mr. Boucher acknowledged earlier when...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: If the bankruptcy period is reduced from three years to one year, how is that going to affect the bank? What kind of losses does it expect to incur?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: I have gone through this with Bank of Ireland in this committee on a number of occasions. It does not write off debt but rather keeps everybody and anybody on the line. Why would an individual not head towards bankruptcy and crystallise the loss for the bank? Surely that will have a negative impact on the bank's balance sheet.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: The bank has provided for it but is not allowing it to happen.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: The bank is not providing any write-off. Is Mr. Boucher acknowledging that it needs to be done or could be done?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: Bank of Ireland is covering the risk but not actually doing anything in day-to-day practice. That is all right. I know it is the bank's modus operandi.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: I will go back to the issue of reputation. I have been like a broken record on the issue of reputation for several years and I heard Deputies Creed and Donnelly speaking about it. There is one thing I am trying to get my head around, which I would like to tease out with Mr. Boucher. He talks about having 500 people working in the area of dealing with distressed mortgages. Bonuses are part...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: How are people incentivised? Are they paid any further amount for performing their duties?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: Then nobody in Bank of Ireland, in treasury or anywhere else, is getting a bonus and incentives are all wage-related. I am just trying-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: That is life insurance and so on. I am looking at the figures again and seeing that there is between €200 million and €500 million for new business in building homes and so on.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: I am flabbergasted by the small amount of money going out there. I am sure that in years gone by, Bank of Ireland would have given out multiples of that. That does not bode-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: There is capacity for more. The demand for houses exceeds supply and the price of property is going up.