John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

We are coming to the end of our time, unfortunately, as we have to leave the room at 2 p.m. I reflect the same view that has been expressed right around this table. Part of our frustration with PTSB was its reluctance to give us information when it was in the public domain, and simply to confirm or deny what we are reading. I understand that paper never refused ink but, as Deputy McGrath outlined, there is a string of reports right across media outlets in relation to this project. The agenda of today's meeting was to discuss the sale of loans and it is clearly laid out in terms of the business of the meeting today. I join with Deputies McGrath and Doherty in saying there is a need for AIB to reflect on it and perhaps to come back to us with some sort of detail on the project itself. Those loans that are tied to a business or some sort of enterprise of one kind or another will not know anything about it, so we have to either tell them that the articles are untrue or that they are true and that they involve the following types of properties, within the loose definition of commercial confidentiality. We all understand that but we also understand the task that we have to undertake. Deputies Doherty and McGrath are correct. We will reflect on what the witnesses have said, or not said, today. I think AIB should do likewise. In the interests of providing calm and direction in terms of the marketplace, while protection of confidentiality and commercial sensitivity are important, I think we need information. That is what has come out of the meeting today.

The bank responded to a questionnaire from 13 June 2017 and said in April of that year it would enter into a binding contractual agreement to sell approximately €200 million of funds. Mr. Bourke alluded to that earlier. I am sure that in the context of that type of information and what we received earlier from PTSB, the same could be done with AIB. Let us as two parties to this reflect on the meeting today. I would love to go into matters more deeply but, unfortunately, time does not permit.

The other area I wish to ask about relates to a response the bank has given that no homes are affected but the concern is that businesses are involved. The bank has been working with iCare and the Irish Mortgage Holders Organisation and perhaps others, but we are aware of those I outlined. A lot of the information the bank has given and the work it has undertaken seems to be positive in terms of how it is progressing all of those things and it is proactive in terms of finding solutions, it is using charities and other organisation outside of the bank to deal with the home loans issue. I asked PTSB earlier whether it would consider reaching out now beyond that and improving the iCare product or option and exploring new and imaginative ways of dealing with that cohort of customers that still exists on the bank's books in order to keep them in their own home, to give them a sustainable solution in the context of where they are at with the bank and to provide them with some alternative.