Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

As I said in an earlier answer to the Chairman, I cannot influence how a bank responds on its timing because we are dealing with an independent regulator. What I can do is influence what I can directly control. If I believe there are changes which are needed which require legislative or regulatory change, my objective is to implement them as soon as possible. I will do it against the background of saying the current legal framework in place and the institutions which have been in place to manage this very difficult issue for many years within the country have played an important role. I cannot comment on any individual and it would not be appropriate for me to do so. Of course, we are all aware of citizens who have reached resolutions with their banks and agreements which have led to a significant decrease in mortgage arrears on non-performing loans. I have many colleagues, including Deputies Peter Burke and Bernard J. Durkan, who have been raising the matter with me and will look at further change if it is needed and how and when I can do it. Of course, I want to do it as soon as I can, but I do not want to lose sight of the fact that the framework we have had in place has enabled a resolution for many citizens of banking difficulties which, a number of years ago, had looked nearly insurmountable. Of course, when a family who have not been successful in finding a resolution talk about it in public, as the Chairman says, we get an insight into the anguish caused. I have dealt with this issue on countless occasions, both as Minister and within my constituency. However, I acknowledge that what has been in place to date has played an important role in facilitating thousands of agreements.