Mr. Shane O'Sullivan:

We see personal insolvency as a key part of the resolution process. As a bank, we welcome and support it. There has been a great deal of ambiguity about how exactly the process will work. At a sectoral level, we have in recent times come to almost fully understand how the process will work. Permanent TSB has appointed a personal insolvency manager and put in place a team to work with the personal insolvency practitioners, PIPs. The team is engaged in mock cases. We welcome the obligation on Permanent TSB and others under the CCMA to be explicit in respect of the PIA.