Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I have spoken to both banks at length about this issue. I agree with Deputy Michael McGrath's suggestion but I do not believe there is a conflict in the evidence; the evidence is the reality. The reality is that Permanent TSB made a mess of its split mortgages. As a result of the way in which it restructured them, all 6,300 have been deemed non-performing. AIB's 3,800 split mortgages are either deemed to be performing or have the potential to become performing. It is mind-blowing that Permanent TSB does not know how AIB was able to do this. These are two State-owned banks with thousands of split mortgages. One bank has managed its split mortgages into performing loans, under the same rules, while the other has deemed thousands of its mortgages to be non-performing. There needs to be an intervention. Who is left carrying the can? It is the people who did nothing wrong and who have performing mortgages but because these are deemed to be non-performing, they are, in Permanent TSB's case, being sold off as part of Project Glas. There needs to be an intervention. The fact that the management of Permanent TSB does not know how AIB did what Permanent TSB is supposed to do is just mind-blowing. We are paying these people hundreds of thousands of euro and they cannot get to grips with this. They told us that they wrote to the SSM last year and they are still awaiting a response.

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