IBRC Mortgage Loan Book

Dáil Éireann Debate, Wednesday - 30 April 2014

Wednesday, 30 April 2014

Questions (75)

Pearse Doherty

Question:

75. Deputy Pearse Doherty asked the Minister for Finance if, following the recent disposal by the special liquidators of Irish Bank Resolution Corporation of 64% of the mortgage book, he has considered using his shareholding in Permanent TSB or Allied Irish Banks to persuade either institution to acquire the unsold mortgages; if he considers AIB or PTSB to be better able to manage mortgages than the National Asset Management Agency; and if he will make a statement on the matter. [18973/14]

Written answers

Minister for Finance

I am advised by the Special Liquidators that they are in the process of devising a further open market sales process in relation to the remaining mortgage books in IBRC the details of which will be communicated to all relevant parties in due course. 

Any decision to acquire loan books is a commercial matter for the Boards and managment of the individual banks and as the Deputy will be aware under the Relationship Framework the State does not intervene in their management decisions regarding commercial matters.