Oireachtas Joint and Select Committees
Thursday, 10 May 2018
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Banking Sector: Quarterly Engagement with the Central Bank of Ireland
9:30 am
Rose Conway Walsh (Sinn Fein) | Oireachtas source
I thank Professor Lane for his presentation. I look forward to the day that we do not have to take up time dealing with tracker mortgages examination because it is holding the committee back from dealing with other issues. I would like to put a few questions to him about what the Central Bank thinks might be acceptable under its code of conduct for dealing with tracker mortgages. I refer to somebody who initiated correspondence with a bank in January 2016 and has engaged constantly since then but who has to date received no information. The latest correspondence on 10 October 2017 states the examination is ongoing and there is no timescale for completion. There is a lack of communication, which is contrary to the Central Bank's expectations on how this debacle should be addressed. Is Professor Lane concerned that some banks do not have the capacity to do what they need?
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