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

As the Deputy is aware, the essential issue revolves around ensuring that there are sufficient procedures and initiatives available to allow mortgages to be restructured in a way that will see to it that they are affordable. Some 110,000 mortgages have already been restructured and significant progress has also been made across a range of initiatives. In the past month or so, the initiatives that are available to the banks have been reviewed in order to establish whether additional or modified initiatives that would work better might be put in place. Work in this regard is ongoing and an announcement on the matter will be made some time during the course of this month.

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