Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

As I have already indicated, I am not in a position to use the requirement for the banks to consult with me in order to block a sale of this type. As I have already stressed, I am aware of the concerns of mortgage holders in respect of these potential sales and I have committed to a number of actions. I have committed to working with Deputy Michael McGrath on his Bill to regulate funds and expand the regulatory reach and I have used the powers open to me to ask the Central Bank to conduct a review of the code of conduct on mortgage arrears. It is important that the Irish banking system gets to a place where its level of non-performing loans is reduced. This must be done, however, in a way that takes account of the difficulties that mortgage holders can face as that happens, as was the case in the past. We have seen a significant reduction in the level of mortgage arrears and the number of non-performing loans while, simultaneously, we have avoided the worst forecasts expressed at various points in the past. I am committed to trying to maintain this framework into the future.

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