Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Those stress tests are in the region of 20%, is that right? I am not saying that is what AIB applies but it is common for banks to apply 20%, with the exception of Permanent TSB which does not go into that market. There is a question of fairness in this regard, given that this is a small island. I am not familiar with Bank of Ireland but the banks operate across the Border. As I said, my county is deeply affected by this because of the 7,000 people who cross the Border to work, according to the census, more than half of them come from Donegal to Derry. The census also tells us that it is an area of high deprivation. I ask both banks to write to the committee outlining any penalties and the rationale for the penalties.

Permanent TSB said there were regulatory and operational restrictions. There is no regulatory restriction. Just like any other bank, it can apply foreign currency loans. Regulations exist, the 2016 regulations, but other banks are doing it and Permanent TSB could do it also. Why do they not? Its customers are not able to get that support.