Skip to main content
Normal View

Mortgage Arrears Proposals

Dáil Éireann Debate, Tuesday - 26 March 2013

Tuesday, 26 March 2013

Questions (186, 187)

Brendan Ryan

Question:

186. Deputy Brendan Ryan asked the Minister for Finance if a lender (details supplied) will be included as one of the main lenders being set targets by the Central Bank to tackle the mortgage arrears problem as announced last week; and if he will make a statement on the matter. [14838/13]

View answer

Brendan Ryan

Question:

187. Deputy Brendan Ryan asked the Minister for Finance if he will provide a list of lenders that will be set targets by the Central Bank to tackle the mortgage arrears crisis as announced last week; and if he will make a statement on the matter. [14839/13]

View answer

Written answers

I propose to take Questions Nos. 186 and 187 together.

The Deputy will be aware that on 13 March 2013 the Central Bank announced new measures to address mortgage arrears, including the publication of performance targets for the main mortgage banks. The targets are set in relation to both Principal Dwelling Homes and Buy to Let mortgages. The new approach is aimed at ensuring that banks offer and conclude sustainable solutions for their customers in arrears by setting specific performance targets and proposing revisions to provisioning standards.

Performance targets have been set for: ACC; AIB; Bank of Ireland; KBC Bank; Permanent TSB; and Ulster Bank.

The Central Bank has advised that these institutions cover the vast majority of the mortgage book in Ireland, accounting for around 90% of mortgages held, and that it will examine whether it should extend the targets to sub-prime lenders in due course.

Question No. 188 answered with Question No. 179.
Top
Share