Michael McGrath (Cork South Central, Fianna Fail)
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To ask the Minister for Finance his views on banks requiring customers in financial difficulties to sign non disclosure agreements prior to entering discussions with financial institutions; and if he will make a statement on the matter. [13505/13]

Michael Noonan (Limerick City, Fine Gael)
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While details of any mortgage restructuring agreements is a matter for each individual bank and borrower, the Central Bank has advised that such agreements should not impede consumer’s protections under the Code of Conduct on Mortgage Arrears (CCMA), for example:

- at the borrower’s request and with the borrower’s written consent, the lender must liaise with a third party nominated by the borrower to act on his/her behalf in relation to his/her arrears situation (Provision 6 of the CCMA); or

- Where an alternative arrangement is offered by a lender, the lender must provide the borrower with a clear explanation, in writing, of the alternative repayment arrangement, including the borrower must be advised to take appropriate independent legal and/or financial advice (Provision 37 (g) of the CCMA); or

- the borrowers right to refer appeals to the Financial Services Ombudsman (Provision 44 (e) of the CCMA).