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

Customers and citizens have been making agreements with many banks to help get through the grave difficulty in which they were and still are. The Deputy refers to structures. I can mention the personal insolvency legislation and organisations such as Abhaile, all of which have contributed to a massive reduction in mortgage arrears over recent years, for 16 or 17 consecutive quarters. That has happened because the structures have been in place to help people get agreement in a way that differentiates between the majority of citizens who want to pay and a few who have decided not to pay at different points. I have told the House several times this afternoon that, conscious of the fact that there are further significant developments on the horizon, such as the potential loan book sale by Permanent TSB, I aim to see how we can assess, and change if needed, matters such as how we regulate private equity funds. I also aim to ask the Central Bank to review the code of conduct on mortgage arrears because I want to ensure that we have the right structures in place to manage further difficulty and stress that could develop in the period ahead.

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