Dáil Éireann Debate, Thursday - 14 December 2017
121. Deputy Michael McGrath asked the Minister for Finance the average interest rate charged on private dwelling house mortgages, buy-to-let mortgages, SME commercial loans and other commercial loans in IBRC’s loan book; and if he will make a statement on the matter. [53786/17]
View answerThe following table outlines the number and value of commercial loans (including SME and other commercial loans) as at 7 February 2013:
|
Interest Rate |
No of Accounts |
Balance - €m's |
|
<1% |
166 |
399 |
|
1% - 1.99% |
920 |
8,658 |
|
2% - 2.99% |
2,729 |
7,232 |
|
3% - 3.99% |
1,568 |
4,893 |
|
4% - 4.99% |
392 |
259 |
|
5% - 5.99% |
271 |
391 |
|
6% - 6.99% |
132 |
159 |
|
7% - 7.99% |
67 |
83 |
|
>8% |
66 |
56 |
The Special Liquidators have advised that balances with a rate of less that 1% primarily related to distressed loans where the loan was restructured or where the borrower was in liquidation or administration and the prospect of any future recovery was remote.
The Special Liquidators are in the process of compiling a response to the remainder of the question which I will forward to the Deputy at the earliest opportunity.?
Given that IBRC is going through a liquidation process, the ability to collate and report information of this detail in such a short period of time is not as feasible as it would be for a bank that is not in wind-down. The Special Liquidators have advised that the delay in issuing the response is due to the information not being readily available on the systems that are being used in the bank and that manual collation of the information is required.
