Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

As we are going around the houses on that, perhaps we will come back to it at a later stage. My final question refers to the issue Deputy Farrell raised about mica. Can Mr. Crowley elaborate on his comments? Being helpful to customers can mean ten different things. It can mean low interest rates. It can mean forbearance in terms of mortgages. The core issue here is what was expected by my colleague, Deputy Mac Lochlainn, and I when we wrote to the banks, and by the MICA Action Group at the time. We were looking for PTSB and other banks to support the redress scheme by contributing to it, but they refused to do so. Does Mr. Crowley foresee a scenario whereby there would be a contribution from the bank as a result of the mica redress scheme?

Can Mr. Crowley explain how a loan for a mica affected property is classified on the books of PTSB? Let us be clear on this. We have seen that one third of homes that applied for the scheme in Donegal need to be demolished, therefore, their asset value is zero. Some of those assets are secured by PTSB loans. How are those loans classified on the books of PTSB?

Has the fact that the assets are now valueless triggered an impairment review? How is PTSB dealing with those assets and what are its obligations with regard to reporting? There are clear obligations for impairment of loans. One of those obligations relates to cases where the value of the assets that are secured on the loan drops, and in these cases the value has, unfortunately, dropped significantly.