Stephen Donnelly (Wicklow, Independent) | Oireachtas source

I hope the Minister will agree that the answer which was scripted is boilerplate stuff and does not address the question I raised, which relates to the fact that the majority of restructures increase the level of profitability to the bank from the restructures, although not in all cases. As an example, the chief executive of Bank of Ireland has admitted to the committee on the record that more than 90% of Bank of Ireland restructures result in higher overall payments to the bank. For a great many restructures, including repossessions, the banks are making more money than had the loan been discharged. Let us ignore the CCMA and other such considerations, but, as a principle, does the Minister agree that in those cases the banks should not end up with a higher profit than had the loan been discharged normally? If the Minister agrees with that, would he be open to exploring legislation with the committee to that effect?

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