19 Feb 2013, 16:58
Head of the Credit Review Office John Trethowan will appear before the Committee on Finance, Public Expenditure and Reform tomorrow Wednesday, 20th February, 2013 to discuss credit provision to the business sector and the wider economy.
Ciarán Lynch, TD, Chairman of the Committee on Finance, Public Expenditure and Reform, said: “The availability of credit is essential to business and the functioning of the economy. However, last August a Central Bank report said that Irish banks have the second lowest approval rating for loans to small business in the euro area. However, this report was flatly rejected by the banking industry. In the light of a number of conflicting statements and reports on the incidence of bank lending to small and medium sized businesses, the Committee will be keen to establish the true position in relation to lending by financial institutions and to ascertain what is being done to free up credit.
“Among the key tasks of the Credit Review Office is to review credit refusals by banks covered under the government guarantee scheme. In this, our first meeting with Mr Trethowan and his office, we’re looking forward to getting an update on the current situation in relation to its review of credit provision. We will be particularly interested in getting the latest data on the number of refused loans which have been referred to the Credit Review Office and the number of these loans which have granted following review.
“Along with considering the office’s most recent report, the committee will receive an update on the work of the Credit Review Office to date, while Members of the Committee will have an opportunity to raise issues and concerns in relation to credit for business and individuals.”
This meeting will start in Committee Room 4, Leinster House at 2pm on Wednesday, 20th February 2013.
Committee proceedings can be followed live at: http://www.oireachtas.ie/parliament/watchlisten/
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
Deputies
Richard Boyd-Barrett, People Before Profit
Michael Creed, 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
Ciarán Lynch, Labour Party (Chairman)
Michael McGrath, Fianna Fáil
Dara Murphy, Fine Gael
Timmy Dooley, Fianna Fáil
Kieran O’Donnell, Fine Gael
Arthur Spring, Labour Party
Brian Stanley, Sinn Féin
Billy Timmins, Fine Gael
Liam Twomey, Fine Gael
Simon Harris, Fine Gael
Aodhán Ó'Ríordáin, Labour Party
Senators
Sean D Barrett
Thomas Byrne
Paul Coghlan
Michael D’Arcy
Aideen Hayden
Tom Sheahan