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

I agree with the Deputy. This is a difficult situation and I am glad that there is now movement to resolve it. On the data available to me on the targets set down, approximately 25,000 offers have been made across the banks already. I can get more precise data for the Deputy. I do not have to hand the breakdown on what are the specific solutions across the range of solutions that may be applied but the general principles are as I have laid out. These general principles now have been refined further by the code of conduct on mortgage arrears, which has been reviewed again by the Central Bank. The criteria taken into account are the personal circumstances of the borrower, the overall indebtedness of the borrower, information provided in the standard financial statement, the borrower's current repayment capacity and the borrower's previous history.

However, the principle under which everything is operating is an attempt to distinguish between those who cannot pay and those who will not pay. For those who cannot pay, the banks are engaging and providing sustainable solutions. There is of course a difference between the target on offer and the subsequent targets on solutions. Consequently, there will be a second set of data giving information on the offers that have been accepted.

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