Michael Noonan (Limerick City, Fine Gael)

The restructuring of the banks has not yet been completed. The process is under way. We hope to have the banks fully recapitalised by the end of July, following which they will be in a position to provide better credit lines for customers. Also, as I stated, there will be redundancy programmes in the banks. When all of this has been done, the cost base of the banks will have been reduced and they will be in a position to offer a more cost effective service to all of their customers, including those with mortgages.

See this speech in context