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Report by the Interdepartmental Working Group on Mortgage Arrears: Statements (Resumed) (22 Nov 2011)

Tom Barry: ...arrears, an increase from 25,000 in 2010. Arrears now account for 6% of the total market and that figure could rise. None of those figures even takes into account the vast numbers of restructured loans, which numbered 60,000 at the start of 2011. Compounding the problem is the interpretation of the Basel agreement currently being applied by the banks. This protocol is used by the banks...

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