Oireachtas Joint and Select Committees

Wednesday, 31 October 2012

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Operations and Functioning of IBRC: Discussion

12:00 pm

Photo of Aideen HaydenAideen Hayden (Labour) | Oireachtas source

I suppose I am looking for an answer to a specific question. Having examined the balance sheet, my impression is that the bank's failure to deal with impaired domestic owner-occupied debt is costing the taxpayer. The bank has had to make higher provisions for impairment over this period. I was somewhat concerned to hear one of the witnesses say, in response to a question that was asked by my colleague, Deputy Kevin Humphreys, that the bank is formulating a strategy as we speak. It does not appear to be formulating a strategy for its high profile debtors. Why is it taking so long to formulate a strategy for owner-occupied domestic mortgage debt?

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