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

I thank the Minister. He and the Taoiseach met the main five retail banks on 11 May.

A statement issued by the Government following that meeting indicated that business and mortgage customers would have the option of having the term of the loan extended so they do not face a rise in monthly repayments when they resume paying. The banks have not made a similar public statement, at least not that I am aware of. Was a commitment given at the meeting that in respect of the five banks, all personal and business customers who are availing of a payment break can have the term of their loan extended to whatever extent is required so that their repayments remain the same? Is that the commitment that was given?

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