Stephen Donnelly (Wicklow, Independent)
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61. To ask the Minister for Finance if he will provide an update on the disposal by Permanent TSB of its non-core commercial real estate loan book and its Springboard mortgage book, and the future milestones in the disposal of these assets. [40524/14]

Michael Noonan (Limerick City, Fine Gael)
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PTSB have informed me that the Bank is in the final stages of the Springboard mortgage book sale process and expect it to complete shortly. As regards its non-core commercial real estate portfolio, the bank may dispose of a proportion of these assets in a number of tranches during 2015. 

I would also like to highlight to the Deputy that the wind-down and/or sale of its non-core loan books is an integral part of the PTSB's Capital and Liquidity Plan and further sales may occur over time.

  Under Clause 11 of the Relationship Framework, PTSB would be obliged to consult with me prior to a disposal, outside the ordinary course of business, of a loan/loans for an amount in excess of €50 million.  In the Relationship Framework it is recognised that PTSB remains a separate economic unit with independent powers of decision and that its Board and management team retain responsibility and authority for determining PTSB's strategy and commercial policies and conducting its day-to-day operations. The consultation would carefully assess, at that particular  point in time, the matter based on the facts and in particular the impact on PTSB's profit, capital and funding.