Oireachtas Joint and Select Committees

Wednesday, 26 February 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Sale of IBRC Mortgage Loan Book: Discussion

5:30 pm

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

The Deputy may not agree with the response or may have a different interpretation of the matter but the response has been given and I would like to bring this to a conclusion.

I want to clear up one matter and ask one question before bringing the meeting to an end. In his presentation Mr. Wallace said that in total there were 15,734 borrower groups comprising 24,632 loans for sale across the six portfolios as described, 33 of these borrower groups, representing 0.2% of total borrower groups, having been or being offered for sale on a stand-alone basis. We know for a fact, as every Deputy has repeated today, no borrower has been provided with an exclusive opportunity to buy back his or her loan at a discount. Did the 33 loans have a certain value? For example, were they above €1 million, €5 million or whatever? What were the criteria that put those people into that space?

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