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

The language used in correspondence from Professor Honohan's office is that these resolution processes must be dealt with within the lifetime of the loan. All mortgages are issued on the basis of a loan being repaid prior to a person reaching retirement age. Either the banks are not understanding the Central Bank properly or I am hearing a softening of the Central Bank's position on this issue. Perhaps Professor Honohan will clarify the matter. I am sure the chief executives of the banks are listening to these proceedings. When I put this question to them they were specific in their response that they cannot do this because the Central Bank will no allow it. Is Professor Honohan now saying the Central Bank will allow it?