Dáil Éireann Debate, Tuesday - 17 April 2018
265. Deputy Pearse Doherty asked the Minister for Finance if a bank (details supplied) received legal advice or technical assistance in the development of its split mortgage product; if so, the details of the advisers and fees paid; and if he will make a statement on the matter. [16120/18]
View answerI have received the following response from AIB.
"The Split Mortgage solution was built in response to the Keane report by all banks across the industry in 2012. It was delivered by the Mortgage Arrears Resolution Strategy (MARS) Programme with regular engagement between AIB and the CBI on the split mortgage design and delivery.
The MARS programme engaged the direct support of both PwC and Accenture in the delivery of AIB’s advanced forbearance solutions and associated operational processes. Internal legal and compliance stakeholders were a key aspect of the overall programme and split solution delivery.
For commercial confidentiality reasons AIB does not publicly disclose the details of contracts with individual external service providers. The bank manages these fees within its commercial business requirements and operating costs."
