Oireachtas Joint and Select Committees

Thursday, 22 March 2018

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

Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB

9:30 am

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I will come back to the point when I look at the slide.

With regard to split mortgages, an issue raised by Deputy Michael McGrath, the delegates state the current guideline is that split mortgages are non-performing. I questioned AIB about this, particularly Mr. Jim O'Keeffe. I asked him whether the view of the ECB was that the warehouse portion of the split mortgage was non-performing. He said it was not the case in the context of the current rules. He went on to explain how the warehouse split mortgages. Is the delegation suggesting split mortgages in all banks are deemed to be non-performing under the current rules?

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