Oireachtas Joint and Select Committees
Thursday, 1 November 2012
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Discussion with Bank of Ireland
12:30 pm
Mr. Richie Boucher:
If the negative equity is the €4.3 billion on the book, based on indexation across all mortgages, on an individual basis, the answer is "Yes". However, the customer's ability to repay is different from the security piece. We assess on the basis of a customer's ability to repay. This is not a pawnbroking business. We look at the customer's ability to repay.
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