Dáil Éireann Debate, Tuesday - 16 April 2013
311. Deputy Stephen S. Donnelly asked the Minister for Finance the plans in place to deal with mortgage arrears in institutions outside the specified credit institutions, specified in the Central Bank's mortgage arrears resolution targets in March 2013; and if he will make a statement on the matter. [17060/13]
View answerThe Deputy will be aware that 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. Performance targets have been set for:
- ACC;
- AIB;
- Bank of Ireland;
- KBC Bank Ireland;
- 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 other mortgage lenders in due course. The Central Bank also continues to engage with all regulated lenders to ensure that adequate mortgage arrears resolution strategies are in place.
