Patrick Nulty (Dublin West, Independent)
Link to this: Individually | In context | Oireachtas source

58. To ask the Minister for Finance the amount of funding each Irish bank, which received taxpayer support, has received for the specific purpose of dealing with distressed family home mortgages; the amount of that allocated funding that has been used to help distressed family home mortgage holders; and if he will make a statement on the matter. [38950/13]

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

In early 2011, as part of the agreement with the External Partners, the Central Bank commissioned a detailed and data-driven evaluation of the possible loan losses that would be incurred by the banks in a severe, but not utterly implausible, stress scenario. All the loan books were examined, including the residential mortgage books in Ireland and the UK, taking into account projections in arrears, house prices etc. The results of this work were key inputs into the capital requirements identified in PCAR 2011, which totalled €24bn. Total losses modelled under the stress scenario on Irish mortgages were €9bn. This comprised €2bn at BOI, €4.4bn at AIB/EBS and €2.6bn at ptsb. However, in the analysis, there was never any specific provision made for the purpose of providing debt relief for distressed family home mortgages. Further details can be found at