Michael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context

Question 60: To ask the Minister for Finance if he or the Financial Regulator has had any contact with the covered institutions on incentivising tracker mortgage holders to make lump sum payments or accelerate the repayment of their mortgage; and if he will make a statement on the matter. [35322/11]

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

The Central Bank have advised my Department that they cannot comment on their contacts, if any, with individual financial institutions on this issue. I can confirm that neither my Department, nor myself, have had any contact with AIB or Bank of Ireland in relation to this matter. I am advised that Irish Life and Permanent previously offered such a scheme and as a result the matter was discussed, as part of the regular interactions between Irish Life and Permanent and my Department to ensure that such schemes avoid any potentially adverse consequences for the bank and the State as majority shareholder. Issues such as these, are and must remain, a commercial matter for the Board and management of those institutions.