Oireachtas Joint and Select Committees

Wednesday, 4 September 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Financial Sector: Discussion with Bank of Ireland

11:25 am

Photo of Kieran O'DonnellKieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

I realise that, but I have limited time and want to keep it in ordinary layman's language.

Mr. Boucher has referred us to page 15 and the residential mortgages heading, which is what we are looking at. The number of accounts in arrears for more than 90 days to which this applies is 3,603. Of these, 1,406 are full interest accounts. That does not fall within the terms of looking at sustainable solutions in quarter two. The committee is entitled to a breakdown of the 3,164 restructuring figure and know whether it is made up of the capitalisation of arrears, term extensions, trade downs, mortgage-to-rent arrangements, split mortgages, voluntary repossessions, cash flow help or mortgages that are deemed to be affordable.

This is like being in a maze. We are chasing Mr. Boucher around the place, but I would prefer if he simply sat still for one minute and gave us the figures in order that we can get on with our work such that we can interact in a constructive way rather than speak on macro issues, although I do not deny that they are important. Our job today is to look at the figure of 3,164 for restructuring and the legal process. We also need to know-----

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