Oireachtas Joint and Select Committees

Thursday, 6 July 2017

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

ECOFIN Meeting: Minister for Finance

9:30 am

Photo of Gerry HorkanGerry Horkan (Fianna Fail) | Oireachtas source

I welcome the Minister. He is the only member of Cabinet who kept his old job and got another job on top of it. I wish him the best of luck with all his responsibilities. No doubt we will be seeing plenty of him and his Ministers of State in this committee and in the Seanad. He has had a good interaction with all of us here this morning, including all the Senators present and Deputy Pearse Doherty.

Many of the points have been covered. The Minister mentioned at one stage there was a peak in 2015 of €52 billion in non-performing loans. In his opening contribution, however, he said there was a peak in 2013 of €85 billion and that it is now down by 63%. Obviously, the best way to resolve an impaired loan is for it to be paid off in full. Of that 63% reduction from €85 billion, how much of it did we get back in repayments and how much was in write-offs? How much of it was restructured and moved into a category of unimpaired loans?

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