Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I welcome the delegation's appearance before the committee. I ask Ms McDonagh to address non-performing loans, NPLs, first. Bank of Ireland has reduced its non-performing exposures to the lowest of any of the banks. It has been claimed that the bank has done so without selling any family homes. Will she outline where the bank is at now? Ms McDonagh said that the bank is now close to the 5% ECB target but we heard from the ECB this week that there is no such thing as a hard and fast target. What securitisations has the bank entered into over recent years? Were they synthetic securitisations or more like the Project Glenbeigh securitisation where the borrower has a new credit servicer and deals with a new agent in respect of them?