18 Jul 2012, 11:34
Jeremy Masding, Chief Executive of Permanent TSB will appear before the Oireachtas Committee on Finance, Public Expenditure & Reform today, Wednesday 18th July to discuss the bank’s interest rate regime as well as its plans to restructure the bank and other related financial issues.
Committee chairman Alex White, TD said: “The Committee is keen to raise the issue of mortgage interest rates at Permanent TSB with Mr Masding, in particular its high variable interest rate compared to what other banks are charging. While Permanent TSB did cut its variable mortgage interest rate earlier this month, the rate remains relatively high, and we will be interested in finding out what impact this rate is having on mortgage arrears, and if the interest being charged to customers on variable rate mortgages is subsidising loss-making tracker loans.
The Committee will also question Mr Masding on its plans to restructure the bank and we look forward to getting an update on its separation from the Irish Life insurance business and progress on splitting the institution into a good bank and bad bank to manage bad loans.”
The meeting will take place in Committee Room 4, Leinster House 2000 at 2pm on Wednesday, 18th July 2012.
Committee proceedings can be followed live at:
http://www.oireachtas.ie/ViewDoc.asp?fn=/documents/livewebcast/Web-Live.htm&CatID=83&m=o
For further information please contact:
Ciaran Brennan,
Houses of the Oireachtas,
Communications Unit,
Leinster House,
Dublin 2
P: +3531 618 3903
M: 086-0496518
F: +3531 618 4551
Committee Membership
Committee Membership
Deputies
Richard Boyd-Barret, People Before Profit
Michael McNamara, Labour Party
Pádraig Mac Lochlainn, Sinn Féin
Michael Creed, Fine Gael
Jim Daly, Fine Gael
Pearse Doherty, Sinn Fein
Stephen Donnelly, Independent
Sean Fleming, Fianna Fáil
Joe Higgins, Socialist Party
Heather Humphreys, Fine Gael
Kevin Humphreys, Labour Party
Peter Mathews, Fine Gael
Mary Lou McDonald, Sinn Fein
Michael McGrath, Fianna Fáil
Olivia Mitchell, Fine Gael
Timmy Dooley, Fianna Fáil
Kieran O’Donnell, Fine Gael
Arthur Spring, Labour Party
Billy Timmins, Fine Gael
Liam Twomey, Fine Gael
Alex White, Labour Party
Senators
Sean D Barrett
Thomas Byrne
Michael D’Arcy
Aideen Hayden
Tom Sheahan
Paul Coghlan