Oireachtas Joint and Select Committees

Wednesday, 30 April 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Mortgage Arrears Resolution Process (Resumed): Central Bank of Ireland

1:05 pm

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

Have discussions taken place with the pillar banks in the context of this being an agreed resolution? I am aware that the banks are obliged to engage with the Central Bank on any new models they bring forward if they contribute to the number of solutions falling within the target figure. This is what Ulster Bank was obliged to do when it drew up plans to introduce concessionary mortgages. Has that to which I refer also been discussed with the banks - in the context of falling within the target figure - as being a sustainable, long-term solution?

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