Oireachtas Joint and Select Committees

Tuesday, 23 January 2018

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

Tracker Mortgages: Allied Irish Banks

4:00 pm

Photo of Kieran O'DonnellKieran O'Donnell (Fine Gael) | Oireachtas source

I will outline the context because I have limited time. The context is that many of the loans were backed by the value of the core asset, be it the farm or business. Many of the borrowers now feel they are being held over a barrel by the banks in that the banks are seeking to realise the value of their debt through the sale of the asset that constitutes their livelihood. Has AIB written the loans down to a point at which it can take a write-off on debt that is effectively based on development property, not the core asset? Could the delegates answer quickly because I have to go to a vote?

Comments

No comments

Log in or join to post a public comment.