Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

This relates to the issue that Deputy Doherty raised in respect of the handling by the banks of the mortgage arrears crisis and, in particular, the mortgage arrears resolution targets programme. Following its audit of the arrears targets programme, the Central Bank confirmed that in the first quarter, 60% of the proposed solutions were in the surrender or repossession category. The figure fell to 55% in the second quarter. The bank did not state that it does not regard the threat of legal repossession as not constituting a sustainable solution. It did not go as far as the Minister in that regard. Is the Minister on the one page with the Central Bank on whether the threat of legal repossession does not constitute a sustainable solution? If we can get clarity on that much at least, it would be a good day's work.

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