Paul Coghlan (Fine Gael) | Oireachtas source

I welcome the witnesses and congratulate them on the turnaround in the bank in recent years. It is fair to say the bank is doing better than its competitors overall. The bank is only responsible for 6% of the whole process of attempted repossessions. When does the bank anticipate a pay off to the taxpayer of the remaining 14% or thereabouts? There is public concern at the gap between ECB interest rates and standard variable rates. Where there is severe hardship in the case of some families, is the bank open to third party review of the applicable standard variable rate in circumstances where the customer can demonstrate that the rate is inflicting hardship? Would the bank accept an external agency to arbitrate on that matter in much the same way as the Credit Review Office assists SMEs with credit challenges?

I understand what Mr. Boucher said to Deputy Fleming about full recourse lending. Where a repossession is voluntary with assisted sale or surrender and the bank knows the borrower has nothing else, I presume the bank will not pursue the person with regard to the outstanding debt. There is nothing to pursue. Has the bank analysed those in persistent arrears and established why they are failing to engage with the bank? Engagement is the big thing. What is the total amount of the current level of loans in arrears? Has the bank sold any non-performing loans to debt investors, or vulture funds as they are more commonly known? What steps has the bank taken to ensure that customers are protected where such a transfer takes place? Perhaps it does not arise. I thank the witnesses. That is my lot.