I propose to take Questions Nos. 80 and 81 together.
Some of the companies that purchased loan books from lending institutions in Ireland are regulated entities and are therefore regulated by the Central Bank of Ireland. As statutory regulator of credit institutions, the Central Bank has the power, from both a prudential and consumer protection perspective, to require banks to meaningfully and sustainably address mortgage arrears cases on their books. All borrowers whose loans have been purchased by regulated entities, and were previously protected under the consumer codes, remain so protected. As the Deputy is aware, the Central Bank publishes statistics in relation to residential mortgage arrears and repossessions on a quarterly basis.
Where the purchaser of a loan book is not a regulated entity in Ireland, those companies have committed to voluntarily apply the codes when managing the loan books. Of course, voluntary compliance is not enforceable and ultimately it is the aim of this Government to ensure the same protections for all consumers whose loans have been sold.
Therefore, as Minister for Finance, I am committed to bringing forward legislation that protects consumers whose mortgages are sold to unregulated entities. The Government has reiterated this commitment on several occasions. In July and August of this year, my Department ran a public consultation seeking views on its proposed legislation to protect consumers whose loans are sold to unregulated entities.
The Department of Finance received 18 submissions from a range of respondents from the financial services industry, consumer groups, public representatives and individuals and other stakeholders. Officials in my Department are carefully considering the submissions and it is anticipated that legislation will be published by the end of this year.