Oireachtas Joint and Select Committees

Thursday, 11 October 2018

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

Sale of Property Loans (Project Glas) By Permanent TSB: Discussion

11:30 am

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Arrears recapitalisation is deemed as a restructured loan but if the bank is to dress that up as a non-performing loan, which is in the same category as someone who might have €100,000 of arrears with none of it paid in the past seven years, it is not fair. The bank has not provided the figure yet but it is selling off hundreds, if not thousands, of loans that are meeting the agreements and arrangements made with Permanent TSB. Is that not the reality?

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