Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

With regard to the role of the Central Bank, as well as establishing the blueprint, which it announced last Wednesday, and laying out the timescale over which impaired mortgages will be dealt with until the position is resolved, it will also supervise and monitor the arrangements being made by individual banks with mortgage holders.

It will take a representative sample of the arrangements made to see if the case studies they examine correspond to the guidelines that have been set down.

As regards the set of issues concerning the living income for a family, there is a statutory obligation on insolvency practitioners to come up with guidelines. They are working on it and will have the guidelines very shortly when an announcement will be made. That strictly applies to arrangements made within the remit of the insolvency legislation. However, this is a small country and all these people talk to each other. One would expect, therefore, that what is developed by the insolvency service will become the norm for the informal dialogue as well. I will make sure that the Deputy's views are expressed to the Central Bank and the other banks so that people are not operating to different guidelines or no guidelines. That is what the Deputy was saying.

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