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
11:45 am
Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source
Some of these measures such as full interest, for example, could have been measures the bank has agreed with the customers in 2008, 2009, 2011, 2012 and 2013 – over a period of five years. The Central Bank and the Government have asked about offers for accounts that were in arrears of 90 days or more as of this year. To make it clear to the witnesses, that is why the figures do not correlate in any shape or form with the information the committee wants.
The Government and the Central Bank have asked the banks to do certain things and have said they will impose penalties in terms of the banks' provisions if they do not comply with the 20% target. They are talking about long-term solutions and long-term offers that had to be provided up to 20% by the end of quarter 1. It was mentioned that in quarter 2, 6,267 offers were made. Are those figures correct for quarter 2?
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