Bernard Durkan (Kildare North, Fine Gael)
Link to this: Individually | In context

Question 67: To ask the Minister for Finance the number of cases referred to the banking credit review group in each month since its inception, wherein appeal was made against a decision by banks to refuse credit, working capital and overdraft facilities; the total number of cases dealt with to date; if a satisfactory solution was found in each or all cases; the extent to which the customers' needs were met; and if he will make a statement on the matter. [10869/11]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context

There is no Banking Credit Review Group. I assume the Deputy is referring to the Credit Review Office. The Office was launched on 1 April 2010 and its function is to accept applications from SMEs, sole traders and small and medium-sized farm enterprises that have had their application for credit refused or reduced or have had credit facilities withdrawn by banks participating in the NAMA scheme, and feel that the bank's decision is unjustified. The Credit Review Office will, on application from the borrower, carry out an independent and impartial review of the bank's decision. The Credit Review Office review process operates after the borrower has unsuccessfully appealed through the bank's own internal appeals process. All participating banks are required to review their loan appeals policy and ensure that borrowers are made aware of their right to an internal appeal of an unfavourable lending decision. Table 1 illustrates the number of cases referred to the Credit Review Office in each month since its inception.

TABLE 1

Table 2 below illustrates the status of the applications received in the Credit Review Office. The information is correct up to 6 May 2011. TABLE 2

*includes application awaiting eligibility confirmation