Oireachtas Joint and Select Committees

Tuesday, 3 September 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Financial Sector: Discussion with AIB

3:40 pm

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

I welcome our guests to the committee. On the figures, I am a little frustrated. I said to Deputy McGrath earlier that the presentation was very detailed, but the subject of this meeting is not in the information the delegates are giving us. There have been numerous speakers, but what we are looking for concerns the last quarter. There was a regulatory requirement on AIB to offer long-term sustainable solutions by the end of June this year. We are now into the fifth speaker and we still do not have a full breakdown of the offers it has made. What we have been able to assess so far is that 8,600 offers of long-term solutions have been made. Some 5,000 of these - I presume the figure of 5,000 is accurate; it seems to be a round figure - involve repossession letters. The rest that have been announced so far make up 2,100, which leaves a hole of 1,500. None of us at this committee, one hour into the meeting, has a clue as to the type of offers that have been made. It will eat into my time, but will Mr. Duffy take a few minutes to explain-----

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