Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I am sure Mr. Bell can see from where I am coming in respect of this matter. I am trying to drill down into the numbers in order to obtain a sense of what Ulster Bank has been doing, particularly under the formal regulatory targets programme. It seems that in the region of five out of every six of the offers under discussion relate to legal action which could, in many cases, result in voluntary or forced repossession of properties. In the buy-to-let category, 100% of cases went to rent receivers. When the concept of sustainable solutions was considered and when a new drive to resolve the mortgage arrears problem took place, people would have understood that some more innovative solutions would have been wheeled out in great numbers and that resolutions would be achieved. I would be shocked if the Central Bank were satisfied with the extremely high levels of legal proceedings in the owner-occupier category and rent receiverships in the buy-to-let category.