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

When he came before us previously, Professor Honohan provided a very colourful response when we inquired about the absence of targets. I recall that he stated he was pulling the hair out of his head because of his frustration with the banks. Given that targets are now actually in place, is it time they were reviewed in order to assess how they are being met and whether they might be broadened? Ultimately, sustainable solutions allow borrowers whose mortgages are in distress to see daylight of one form or another.

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