Róisín Shortall (Dublin North West, Social Democrats)
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201. To ask the Minister for Finance if he will undertake to discuss with the major banks the possibility of allowing a special provision for mortgage payment breaks for those working in the aviation sector given the severe impact on that sector as a result of the pandemic; and if he will make a statement on the matter. [5747/21]

Paschal Donohoe (Dublin Central, Fine Gael)
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On 18 March last the Banking and Payments Federation of Ireland (BPFI) announced a coordinated approach by banks and other lenders to help their customers who were economically impacted by the COVID-19 crisis. The measures included flexible loan repayment arrangements where needed, including loan payment breaks initially for a period up to three months and then subsequently extended for up to six months. The implementation of this voluntary moratorium by the banking industry was a flexible response to the emerging COVID-19 crisis and ensured that a large volume of affected customers could benefit quickly during a fast moving and evolving public health crisis.

While many borrowers whose payment break has ended have been able to return to full payments, it is also recognised that many borrowers continue to be impacted by the economic consequences of COVID-19 and they may not be in a position to resume their loan repayment commitments when their payment break ends or may now be in difficulty for the first time.

The Deputy will be aware that the Central Bank has confirmed that there is no regulatory impediment to lenders offering payment breaks to borrowers, providing they are appropriate for the individual borrower circumstance. The BPFI has also reiterated this January that standard payment breaks continue to be part of the wide range of tailored solutions which are being made available to customers upon assessment of their situation. It is in the best long term interests of both the borrower and lender that engagement takes place in relation to a particular loan difficulty and that the most appropriate solution to the individual case is adopted as soon as possible.

Borrowers have a suite of regulatory protections, such as the Central Bank's Code of Conduct on Mortgage Arrears and the Consumer Protection Code, and lenders have specific obligations to support and work with borrowers who are continuing to experience loan difficulty because of COVID-19. The options could include additional flexibility, and this could be a short term arrangement such as additional periods without payments or interest-only repayments, or if appropriate more long term arrangements.

Through ongoing engagement with the BPFI and lenders, the Central Bank is working to ensure that borrowers affected by COVID-19 continue to be supported through this period of unprecedented stress. The Central Bank recently wrote to all lenders indicating that lenders are to ensure that they have sufficient expert resources to assess individual borrower circumstances, and to offer appropriate and sustainable solutions to affected borrowers in a timely manner in line with regulatory requirements and Central Bank expectations.

I will continue to work with the Central Bank, as regulator, to ensure that the Central Bank consumer protection and other applicable frameworks will be fully available to all borrowers that will still need support.

Neale Richmond (Dublin Rathdown, Fine Gael)
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202. To ask the Minister for Finance if he has considered issuing a commemorative coin to honour front-line workers as has been done in Italy; and if he will make a statement on the matter. [5814/21]

Paschal Donohoe (Dublin Central, Fine Gael)
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The role of the Minister of Finance is to authorise the issuance of circulating and commemorative coins.

The Central Bank of Ireland acts as an agent for the Minister in issuing all Irish coin, both circulating and commemorative. The Central Bank has responsibility for the design, production and issuance of the commemorative coins.

The commemorative coin programme for 2021 has been finalised, and the Central Bank is currently seeking submissions from the general public in relation to the collector coin programme for 2022.

All submissions, including any submission relating to front-line workers, will be considered as part of the commemorative coin programme for 2022.

The Collector Coin Unit at the Central Bank can be connected directly at coindesign@centralbank.ie.