IBRC Account Holders

Dáil Éireann Debate, Tuesday - 31 May 2016

Tuesday, 31 May 2016

Questions (248)

Michael McGrath

Question:

248. Deputy Michael McGrath asked the Minister for Finance if he is aware that the Irish Bank Resolution Corporation, in special liquidation, is no longer in a position to provide legacy account support or assistance for loan accounts, mortgage accounts or deposit accounts, including the printing of copy statements or loan offer letters, due to the wind-down of the IBRC; if he will acknowledge that this may cause serious difficulties for borrowers; and if he will make a statement on the matter. [13151/16]

Written answers

Minister for Finance

As a result of the special liquidation and continued wind-down of the bank, IBRC (in special liquidation) is no longer in a position to provide copy statements to former customers, this is due to the decommissioning of legacy banking systems as the bank is being wound-down. 

The Special Liquidators have confirmed that they continue to provide statements on any remaining customers loan accounts in the bank.

Prior to the special liquidation of the bank, customers should have received original statements on their accounts at least annually. Customers should also have been provided with copies of original Facility Letters when they took out their loans.

Post sale of loans to third parties, the Special Liquidators provided details of historic transactions to the service providers of the purchasers of these loans.  Customers have been given the contact details of their new service provider and therefore should contact them if they should need a copy statement or to confirm the balance on their account.