Written answers

Tuesday, 28 June 2011

Department of Finance

Credit Availability

8:00 pm

Photo of John O'MahonyJohn O'Mahony (Mayo, Fine Gael)
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Question 154: To ask the Minister for Finance the number of reviews carried out by the Credit Review Office since its inception; the number of reviews that have upheld the banks decision; and if he will make a statement on the matter. [17477/11]

Photo of Michael NoonanMichael Noonan (Minister, Department of Finance; Limerick City, Fine Gael)
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The Credit Review Office has completed 54 reviews. There are a further 18 applications proceeding through the review process with 10 other applications on hand but whose eligibility has not yet been confirmed. The banks credit decision was upheld in 23 of the 54 reviews completed. More work was required by the borrower and bank or the review was withdrawn in 7 other cases. In the remaining 24 cases, the banks’ credit decision was disputed. In all these cases to date, the banks subsequently provided credit. I am informed by the Credit Review Office that 335 full time and 13 part time jobs were protected in these 24 cases.

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