Oireachtas Joint and Select Committees

Wednesday, 23 June 2021

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

General Banking Matters: Permanent TSB

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

The classification of those loans would be important. The reason I make that point is the State is about to ensure, through a significant amount of spending, that those assets are restored to their original value. That is of considerable benefit to PTSB and other banks. Unfortunately, what I am hearing from Mr. Crowley is that the support the bank will provide, if we look at the pyrite scheme, relates only to forbearance, dealing with interest-only at a time when the work is being done, or soft loans in terms of rental accommodation and other things. It is not about contributing to the cost of restoring assets on the bank's balance sheets. As the CEO of PTSB, does Mr. Crowley believe the bank has a role in that domain? Has it a role in making a financial contribution to assist the overall amount that is to be spent on this scheme to assist these homeowners?

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