Oireachtas Joint and Select Committees

Wednesday, 3 December 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Business of Joint Committee
General Scheme of Sale of Loan Books to Unregulated Third Parties Bill 2014: Discussion

2:40 pm

Photo of Arthur SpringArthur Spring (Kerry North-West Limerick, Labour) | Oireachtas source

Yes. I just wanted to establish that as a basis. It is not ground-breaking in any huge shape or form. My question relates more to interest rates than anything else. If a bank has sold on a book, and if that book is part of a larger portfolio which has a cost of funds that is blended from different currencies, etc., and if it needs to increase in order to break even, what level of control would a new purchaser of a loan book have over the implementation of interest rates on borrowers here?

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