Brian Lenihan Jnr (Dublin West, Fianna Fail)

I will certainly give it consideration and draw it to the attention of the Credit Reviewer, who is engaged in discussions with the Department of Enterprise, Trade and Innovation on this matter. Both AIB and Bank of Ireland submitted lending plans, outlining how they would lend not less than €3 billion per year in new or increased credit facilities both this year and next year. These plans were reviewed by Mr. Trethowan and my Department and were found to be credible. We receive monthly progress reports from the two banks which allow us to ensure they deliver on the strong commitments given in the plans to support viable businesses in all sectors of the economy and in every area of the country. Mr. Trethowan has reported to the Department that both AIB and Bank of Ireland are open for business and that borrowers should use the Credit Review Office if they find this is not the case.

The Credit Review Office started operations in April. The business model is designed to determine whether declined borrowers can demonstrate that their business or farm is viable as a going concern and has cash-generation capability to service the requested credit. An ancillary benefit of the office's establishment has been the setting up of a defined internal appeals system in the NAMA-participating banks. A significant number of refusals are now being overturned. Significant interest has been shown in the office in terms of inquiries, both on the web and by telephone, but this has not been translated into requests for reviews of loan applications where there is a relatively small number. I accept some customers may feel inhibited about making an appeal against an institution.

See this speech in context