Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

I will bring proceedings to a conclusion. I thank Mr. Brown, Mr. Bell and Mr. Leahy for appearing before the committee this afternoon. I appreciate how they engaged with the committee.

We have requested the Governor to appear before the committee and he will do so on 25 September. In preparation for that meeting I will probably write to Ulster Bank in coming days requesting a breakdown of the number of people in a resolution process as it determines the guidelines to be. We would like an itemised breakdown with regard to mortgage-to-rent, if that has happened in some cases, split mortgages and other resolution processes.

Further to what Mr. Brown has told us this afternoon, I would be grateful if he could indicate some other solutions Ulster Bank has been applying that are outside the prescriptive list of resolutions. He has had some interesting things to say this afternoon about how the bank is operating solutions other than split mortgages because customers are finding that a more sustainable long-term approach. I would be particularly interested in hearing any solutions the bank may be applying or considering applying that are not allowed by the Central Bank at the moment, such as the concept of an interest-only payment post-retirement. At the moment, resolution processes require a home owner to have the mortgage cleared or some resolution in place in order that there is no legacy issue on retirement.

I would appreciate it if that could be forwarded to the committee prior its meeting with the Governor. The witness was quite frank earlier in stating that prior to publication of the Keane report, there were no targets, the options open to the bank were limited, but that they have since broadened out and that there may be other options that need to be considered. There may well be unforeseen difficulties that are now arising in respect of which a strategic approach is required. One of these is access to emergency credit or payment breaks. There may be other issues of which we are not aware currently that we need to know about. We would welcome any further thoughts Mr. Brown may have that may be relevant as we work together to try to resolve this difficulty.

A number of curve balls have been thrown over the past couple of days in regard to strategic defaulters. If there are strategic defaulters, they should be pursued to the high heavens. The mission of this committee is to try to ensure that people who are in serious difficulties and are doing their darndest to resolve those difficulties are provided with solutions that are sustainable. By sustainable I mean a solution which allows them meet some level of obligation, work their way through their difficulties, see light at the end of the horizon and, like the banks who want to become viable and profitable, become viable citizens and customers.

I thank the witnesses for appearing before the committee today.