Eoghan Murphy (Dublin Bay South, Fine Gael) | Oireachtas source

I appreciate the Deputy's interest and persistence in this matter. Both of us were members of the banking inquiry and we both have a strong interest in this area.

I would be interested to see the correspondence the Deputy received from the Central Bank, if he would not mind sharing it with me and my officials. Permanent tsb can disclose information if it chooses to do so. That is its choice. However, there is no regulatory requirement on other banks to disclose this publicly. There is a requirement on them to make such returns to the Central Bank. Under the relationship framework agreements with the banks in which we are shareholders, we cannot interfere. We cannot get involved in the relationship between the banks and the Central Bank as regulator, so it would be inappropriate for us to get involved as the Deputy is requesting and to direct them in this manner.

However, the forthcoming review is very important. To ensure we can have an evidence-based approach for this House and the public feeding into what the Central Bank is doing as part of that review, it is important that the Department writes to see if it can get the aggregated data from the Central Bank and to suggest that it might be published, because it would be helpful for making submissions to that review and playing a part in it. Of course, it is within the remit of this Chamber through the Oireachtas committees to engage with the Central Bank on this issue, not only under section 33AK but also section 33AM of the relevant Acts, and to have that debate with it directly.

It is also important to note, as I mentioned earlier, that mortgage lending has increased since these rules came into effect. Furthermore, these exceptions are not targets. It is for the banks, according to their risk appetite and what they think is prudent in terms of managing their loan books, to allow exceptions under the two criteria where they think it is appropriate and where it makes sense in the overall managing of their loan books. What we do not want is for a bank, where it was imprudent or improper to go to these full exceptions, to do so and put other lending and other customers at risk. We have seen that previously and we have seen its negative consequences.

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