Paul Coghlan (Fine Gael) | Oireachtas source

The gentlemen are welcome and I commend them on what they have achieved in getting the bank back on a stable, profitable footing. I have five quick questions which they might take together, if they will bear with me. First, would the bank be open to third-party review of the applicable standard variable rate in circumstances where a consumer can demonstrate that this rate is inflicting hardship in their circumstances? Would there be a role for an external agency to arbitrate in this matter as it applies to individual borrowers in much the same way as the Credit Review Office assists small and medium businesses with credit challenges? This would be in an extreme case. I salute what the bank has done but are there some cases where an independent, objective assessment would assist?

Second, on repossessions, I appreciate what the witness said about 50% re-engagement. That is tremendous, but what is the bank's practice on voluntary assisted sales where the home owner surrenders the house and assists in the disposal process? Does the bank write off the balance of the debt once the asset has been sold?

Third, has the bank done any analysis of the people in persistent arrears where they are failing to engage with the bank? That would be a hard core case.

Fourth, what is the total amount of the current level of loans in arrears where the bank expects to repossess the property?

Fifth, has AIB sold any of its non-performing loans to debt investors or vulture funds, as they are often known? What steps has the bank taken to ensure customers are protected on such a transfer? Those are my questions, and I am grateful to the witnesses.