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Saturday 19 September 2020
Michael Noonan said this lays the ground work for recovering the full value of the taxpayer’s €20.8 billion investment in the bank.
No interbank transaction can take place across the EU today.
The bank is currently engaged in 9,000 legal or potential legal cases with customers in mortgage arrears.
“One bank’s sustainable solution could be another bank’s unsustainable mortgage leading to repossession proceedings,” Fianna Fáil’s Michael McGrath said today.
The Finance Minister has confirmed he met with officials from the bank, but “personally reinforced” that there are currently no plans to re-introduce bonuses.
The cards are not “internationally branded”, AIB said, and will no longer function in ATMs this April.
The Equality Tribunal ruled that she had been discriminated against by Allied Irish Bank.
Both transactions, made by Allied Irish Bank and Permanent TSB, were met with strong demand.
Michael Noonan has explained the significance of last night’s agreement between eurozone finance ministers about the potential retrospective recapitalisation of Ireland’s banks.
The 0.4 per cent increase in the standard variable rate, from 4.0 to 4.4pc, had been announced in late April.
The 30-second ad was shot by Dublin based advertising agency Rothco.
The rate increases vary from 0.25 per cent to 0.4 per cent.
AIB’s chief executive David Duffy – who the report shows was paid €546,000 last year – said that assisting mortgage customers in difficulty would be a “major priority for this year”.
Buy-to-let borrowers signing the agreement are requested not to disclose any details of negotiations with the bank, including the fact that they are happening.
The bank looks set to close 20 branches across the island of Ireland in the coming weeks.
The only one of Ireland’s main banks not under State control makes the final payment to bondholders today bringing to over €20 billion the amount paid out by it and other banks this year.
The approval is seen as routine and may be the last extension, with the possibility of a withdrawal early next year.
The Justice Minister has said that the personal insolvency bill will be enacted through both Oireachtas houses by 20 December and will become operative next year.
Kenny added that the taxation of pensions will be dealt with in the Budget for 2013.
Enda Kenny says the AIB chief has written to former executives, asking them to recall their ‘moral responsibility’.
New figures show the seven banks covered by the State’s guarantees have returned €3.36 billion so far.
A seventh institution asked not to be named by the regulator.
Finance Minister Michael Noonan has said that an attempt to verify exactly who the bondholders who received €1 billion this week are would be an “irretrievable” step towards default.
Sinn Féin protested at AIB’s O’Connell St branch – while the Occupy movement moved into Grafton St – to protest the move.
More than €18 billion has been repaid to bondholders by state-owned Irish banks this year.
As this image reveals, quite a bit.
Personal customer reports provided by the bank to the Irish Credit Bureau misrepresented information on missed loan repayments.
Bank also announced a 0.5 per cent increase in its Standard Variable mortgage rate.
Tracker mortgage customers will see their rate adjusted as per the ECB change – but what about other mortgage holders?
5 minutes, 5 stories, 5 o’clock.
Ireland’s biggest bank has apologised for overcharging customers who could now be entitled to refunds averaging €270 per customer.
The bank’s annual financial report has been released this morning, revealing a growing number of bad mortgage debts.
The bank – which is 99.8 per cent owned by the taxpayer – still pays fees for thousands of staff, despite a State ban on bonuses.
The bank will also make almost one thousand pieces of art available to be used for public exhibition.
The results were widely expected and indicate that Michael Noonan’s restructuring of the banking system is working in this regard.
AIB says its funding costs are not driven by the ECB’s own rates – and that it needs to ensure it makes money for the taxpayer.
Prescient Holdings has acquired AIB Investment Managers for an undisclosed sum in a deal subject to regulatory approval.
State-controlled AIB will participate in the Keane Report’s suggestion allowing struggling mortgage holders to rent their homes.
The new Standardised SME Lending Application Form, adopted by AIB and Bank of Ireland, will help businesses to identify exactly what is required of them when applying for credit, says the Minister for Small Business
Minister for Finance Michael Noonan has confirmed that the bank wants to pay a new CEO above the salary cap introduced by the last government.
MORE THAN THREE-quarters of people would support the government looking into the prospect of a four-day work week, according to a new survey.
This means doing the same job for the same salary, but over four days rather than five.
There have been calls for this idea to be explored already and the Four Day Week Ireland campaign today released details on its public attitude survey conducted last month.
Two out of three respondents said a four-day work week is “realistic and achievable” in the medium term.
67% of employers said they support the idea and 46% said it would be “feasible” to trial in their workplace.
“The four-day week, with no loss of pay, offers the potential of a genuinely better future for workers and employers alike,” said Joe O’Connor, director of campaigning with Fórsa trade union.
What may once have seemed like a radical concept is now, for many, a reasonable and rational ambition. The Covid-19 pandemic has further disrupted societal and workplace norms, while illustrating the potential for very different models of work.
So today we’re asking: Would you support a four-day work week?
Poll Results:
Share your story: voices@thejournal.ie
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