Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Mine relates to the third recommendation of the report, which relates to long-term arrears. What the Commission said was very interesting. In identifying solutions, it placed the emphasis on encouraging write-offs of non-recoverable exposures. The practice in Ireland is to sell on loan portfolios. We will be dealing with legislation tomorrow at committee to regulate these funds. What is the Minister doing to encourage write-offs, which is what the Commission is providing for, as opposed to the current strategy of banks, which seems to be to give the write-off to a fund to just sell on blocks of loans by way of loan portfolios?

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