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

Photo of Peter BurkePeter Burke (Longford-Westmeath, Fine Gael) | Oireachtas source

I thank the witnesses for attending. I wish to touch on a few topics very briefly. In terms of the non-performing loan classifications that were touched on, and those in the State who have split mortgages and are meeting the terms of their restructured arrangement, they look to the Central Bank as well for their protection and to act as a watchdog for their rights. Loan sales are being undertaken in the State whereby those individuals are categorised in the same bundle as people who have not met with the bank or discussed their case with the bank in almost a decade in some cases. With the engagement banks have with the Single Supervisory Mechanism, SSM, what level of protection can the Central Bank offer those people who dealt with the bank originally, who met the terms of the restructure and who do not want to deal with a vulture's agent?

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