Professor Philip Lane:

Yes. This goes to the issue. It is not unique to Ireland but, in general, banks may choose to sell loans, be they wholly performing or non-performing, and there are many reasons for doing so. I appreciate the concerns that arise when people get letters saying that their mortgages are now owned by X, Y or Z, but let me revert to the consumer protection framework. The framework applies regardless of who owns the loans. That is not the only perspective of how these loans will proceed, but the consumer protection element remains regardless of whether a bank or investment fund owns the loan.