Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

We are trying to figure out how different banks are dealing with these issues using different structures. Bank of Ireland was in with us last Thursday. It has gone through a securitisation process and is reducing its NPLs by a fraction of 1%. It is not a huge sale in terms of numbers and is nowhere near the value of Glenbeigh. It reduces the bank's NPL level but does not do what Glenbeigh did, namely, transfer the title or involve the appointment of a new agent. The title remains with Bank of Ireland and the servicer is Bank of Ireland. I assume that is identical to the other 13 securitisations that Mr. Dolan has overseen.