Written answers

Thursday, 26 February 2015

Department of Finance

Mortgage Arrears Proposals

Photo of Lucinda CreightonLucinda Creighton (Dublin South East, Independent)
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70. To ask the Minister for Finance the total numbers of meetings he, or his officials, have held with a person, or company (details supplied), in the context of a proposed bid to purchase Permanent TSB mortgages; if he will confirm that he was aware of any form of this proposal that would include fees from the company being paid to the person or other company, or the company obtaining rent supplement for the borrowers; and if he will make a statement on the matter. [8653/15]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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I have been informed that officials in my Department have met with representatives of the company (details supplied) in total on four occasions. On three of these occasions the meetings were between Department of Finance officials and representatives of the company (details supplied). On a fourth occasion the meeting was attended by Regina Doherty TD, representatives of the company (details supplied) and the person referred to in the details supplied

Discussions centred around a proposal to buy non-performing loans from Irish banks but no specific proposals were discussed in relation to individual banks operating in Ireland, including Permanent TSB, nor were there any discussions in relation to fees.

It should also be noted that the administration of the rent supplement scheme is not within the remit of my Department.  This scheme is the responsibility of my colleague the Minister for Social Protection.

Also as the Deputy will be aware, I must ensure that the banks in which the State has a shareholding are run on a commercial, cost effective and independent basis to ensure their value as an asset to the State. A Relationship Framework has been specified that defines the nature of the relationship between the Minister for Finance and each bank. These frameworks were published on 30 March 2012 and can be found on the Department of Finance website.  

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