Oireachtas Joint and Select Committees

Thursday, 13 June 2013

Public Accounts Committee

Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed)

3:00 pm

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

Why has there been such reluctance to deploy that? Taking on board Mr. Elderfield's generous interpretation as to why there might be so few, if one forgot we were talking about mortgages and laid aside for a moment the financial difficulty our banks are trying to escape, the principle of split mortgages is a very obvious principle when considering difficulty with stressed debt or the management of debt among people finding it difficult to pay. The idea of paying some now and leaving another amount to be dealt with in the future makes sense. With the obviousness of such a solution in mind, what does the fact that only 52 are in place tell us about the state of our banking system in terms of the operational capacity within it and in terms of the potential capital foundations of the system?

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