Mr. Ed Sibley:

Many borrowers are very deeply in distress and the question is how that can be addressed. There are potential solutions. I look at what is coming out of insolvency services. I am sure insolvency is a very difficult process to go through but much work is being put in by the Oireachtas in setting up that process and refining it to ensure it is working effectively. More people are using that.

The most important thing is for borrowers in distress to engage with their lender, whether a bank or a non-bank, because they are required to do so. I appreciate the Chair's comments on that topic. The lenders are required to consider the individual circumstances of the borrower and are required to try and put in arrangements which work for those individual circumstances. We will always listen to and look at evidence where that is happening because a bank or a non-bank is required to do that.