Oireachtas Joint and Select Committees

Thursday, 4 October 2018

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

Banking Sector: Quarterly Engagement with the Central Bank

9:30 am

Mr. Ed Sibley:

There is no 5% target. The figure came from the fact that at a certain point in time it was the eurozone average for non-performing loans. There has been a supervisory drive to bring down non-performing loans for a variety of reasons, on which the Governor has touched. The eurozone average now is around 3.5%.

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