Michael McGrath (Cork South Central, Fianna Fail)
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57. To ask the Minister for Finance the number of securitised Irish PDH mortgage loans here; the number of securitised Irish BTL mortgages here; the number of securitised Irish commercial loans here; the comparative number of loans securitised in each year since 2013; and if he will make a statement on the matter. [23089/18]

Paschal Donohoe (Dublin Central, Fine Gael)
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I wish to advise the Deputy that my department does not hold the information that is being sought. The query was sent to the Central Bank who advised that they do not collect data on the number of loans securitised by the breakdown requested.

However, the Central Bank provided data on the outstanding stock of PDH and BTL loans securitised and serviced by Irish credit institutions since December 2010.

The full table can be found at

Michael McGrath (Cork South Central, Fianna Fail)
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58. To ask the Minister for Finance the number of securitisation transactions involving Irish PDH and BTL mortgages that have taken place in each year since 2013; and if he will make a statement on the matter. [23090/18]

Michael McGrath (Cork South Central, Fianna Fail)
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59. To ask the Minister for Finance the estimated impact on borrowers if a mortgage loan or commercial loan is securitised; and if he will make a statement on the matter. [23091/18]

Michael McGrath (Cork South Central, Fianna Fail)
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60. To ask the Minister for Finance the party which makes the key decisions on underlying loans (details supplied); the regulatory position with regard to the beneficial owner in a securitisation model; and if he will make a statement on the matter. [23092/18]

Paschal Donohoe (Dublin Central, Fine Gael)
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I propose to take Questions Nos. 58 to 60, inclusive, together.

I wish to advise the Deputy that my Department does not hold the information that is being sought. The Central Bank also advised that it does not collect data on the number of loans securitised by the breakdown requested. However, the Bank provided data on the outstanding stock in monetary terms of residential PDH and BTL loans securitised and serviced by Irish credit institutions since December 2013.

The full table can be found at .

Although each securitisation will be different, in general terms under a securitisation a bank assigns its beneficial interest in a portfolio of its loans to a special purpose vehicle in order to secure additional funding or some other benefit for the bank. However, unlike a loan sale, the bank generally continues to retain the legal title to the loan assets and to service, manage and carry out the creditor's rights and obligations under the credit agreement in relation to the borrower; likewise the debtor's obligations under the loan contract will continue to be to the bank.

In terms of consumer and other borrower protections, the legal and regulatory provisions, including the Central Bank codes and SME lending regulations, which apply to the provision and operation of mortgage or other loans to relevant borrowers will continue to apply irrespective of the status of the creditor. In particular, the provisions of the Consumer Protection (Regulation of Credit Servicing Firms) Act 2015 ensure that consumers, whose loans are sold to an entity which is not regulated by the Central Bank, will maintain the same Central Bank regulatory protections they had prior to the sale. Furthermore, the options and frameworks available to insolvent borrowers under the Personal Insolvency Act 2012 as amended will also apply irrespective of the status of the creditor party to a loan contract.