Michael McGrath (Cork South Central, Fianna Fail)
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I welcome Mr. Brown, Mr. Bell and Mr. Ryan and thank them for forwarding answers to our questions in regard to data to the committee in advance of this meeting. I would like to take up where the Chairman left off. In terms of the statistics provided, the fact that 30% of the bank's mortgage customers who are in arrears of 90 days or more are in the formal legal repossession zone strikes me as an incredibly tough approach on the part of the bank. It will send shivers down the spine of many people to hear that despite the improvement in the number of people who are co-operating with the bank three in every ten, or 30%, of people in arrears of 90 days or more are now in the formal legal repossession zone. This is evidence of a get tough approach by the banks.