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

The position is that there is a statutory obligation on the banks to make a range of offers, including those described by the Deputy, to people in arrears with their mortgages. The question that arose was whether the obligation to offer the full range also obliged the previously non-regulated entities to make the same range of offers. I have had discussions with the Governor of the bank, which has data which I do not have. It is examining the data to identify the exact scope of the problem. My commitment to this remains and if it is necessary we will amend the code of conduct so that all beneficial offers to those in arrears are made on a statutory basis and those who have mortgage books are obliged, under law, to make the offers.

See this speech in context