Michael McGrath (Cork South Central, Fianna Fail)
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64. To ask the Minister for Finance in respect of the Residential Mortgage Arrears and Repossession Statistics for Quarter 4, 2014 published by the Central Bank of Ireland, the number of the 114,674 private dwelling home mortgage accounts classified as restructure-rescheduled that are currently meeting the terms of the restructuring-rescheduling arrangement, and are no longer regarded as being in arrears; and if he will make a statement on the matter. [18711/15]

Michael Noonan (Limerick City, Fine Gael)
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I am informed by the Central Bank that some 114,674 principal dwelling home (PDH) mortgage accounts were classified as restructured at end-December.  Of these restructured accounts, 97,449 accounts (84.9%) were deemed to be meeting the terms of their current restructure arrangement. This means that the borrower is, at a minimum, meeting the agreed monthly repayments according to the current restructure arrangement.

The Central Bank also reported that some 78,418 (68.4%) restructured PDH accounts were not in arrears at end-December 2014.  Restructured accounts in arrears include accounts that were in arrears prior to restructuring where the arrears balance has not yet been eliminated, as well as accounts that are in arrears on the current restructuring arrangement.

It is a positive development to note that the above data reflects a quarter-on-quarter increase of 4.3 per cent in PDH mortgage accounts which were classified as restructured for the last quarter of 2014, a development which I hope to see continued in future Central Bank quarterly bulletins.