Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

On the Central Bank and how financial institutions carry the value of these homes on their balance sheets, and, indeed, the Department of Finance because it references the European Union (Consumer Mortgage Credit Agreements) Regulations 2016, which provide that lenders are required to carry the appropriate valuations and methodology to carry out those evaluations for immovable property and credit purposes. Is the Central Bank overseeing that? Is that happening regularly within the financial institutions? Is the Central Bank confident that the proper up-to-date property valuations have been assigned by the bank for properties that have defective block? What happens when a homeowner is making full loan repayments but the value of the property, the collateral that underpins those loans has collapsed? Unfortunately, I have been at too many of these but imagine a house that is deteriorating, has been empty for a couple of years because it is not suitable any more yet the family still makes full repayments even though the value of the property is the value of the land on which it sits and, indeed, the value is probably is less due to the cost of demolishing the house.

To clarify, has the Central Bank ensured that the financial institutions have revalued the properties?