3 Sep 2013, 14:30
Chief Executive of Bank of Ireland Richie Boucher and Jim Brown, chief executive of Ulster Bank will come before the Oireachtas Committee on Finance, Public Expenditure and Reform tomorrow, Wednesday, 4th September 2013 as part of the committee’s focus on Ireland’s financial services sector and activities within the four main lenders.
Committee Chairman Ciarán Lynch said: “We will continue our hearings with the four main lenders tomorrow when we will meet with Richie Boucher, chief executive of Bank of Ireland, and with Ulster Bank chief executive Jim Brown.
With Central Bank figures showing that nearly 100,000 home loans are now more than three months in default, our meetings will provide us with the opportunity to examine the issue of finding sustainable, long-term solutions to the mortgage crisis and measures to ease the burden on struggling homeowners and distressed borrowers.
When the banks were last before us, there were no specific targets in place to provide solutions for homeowners in arrears. Those targets are now in place – by the end of June 2013, banks should have proposed sustainable mortgage solutions for 20% of distressed borrowers.
Tomorrow, we will consider how Bank of Ireland and Ulster Bank are meeting their targets and ensuring that there is a consistency of approach in dealing with distressed borrowers. We will also have a chance to get an update on both banks’ general lending policy.”
This meeting with Richie Boucher will take place at 10am on Wednesday, 4th September 2013 in Committee Room 3, Leinster House 2000. The meeting with Jim Brown will take place in Committee Room 3, LH 2000 at 2pm on Wednesday 4th September.
Committee proceedings can be followed live here
Media Enquiries to:
Ciaran Brennan,
Houses of the Oireachtas,
Communications Unit,
Leinster House,
Dublin 2
P: +3531 618 3903
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F: +3531 618 4551
Committee Membership
Deputies
Richard Boyd-Barrett, People Before Profit
Michael Creed, Fine Gael
Pearse Doherty, Sinn Fein
Regina Doherty, Fine Gael
Stephen Donnelly, Independent
Timmy Dooley, Fianna Fáil
Alan Farrell, Fine Gael
Sean Fleming, Fianna Fáil
Simon Harris, Fine Gael
Joe Higgins, Socialist Party
Heather Humphreys, Fine Gael
Kevin Humphreys, Labour Party
Mary Lou McDonald, Sinn Fein
Ciarán Lynch, Labour Party (Chairman)
Michael McGrath, Fianna Fáil
Dara Murphy, Fine Gael
Kieran O’Donnell, Fine Gael
Aodhán O Ríordáin, Labour
Arthur Spring, Labour Party
Brian Stanley, Sinn Féin
Liam Twomey, Fine Gael
Senators
Sean D Barrett
Thomas Byrne
Paul Coghlan
Michael D’Arcy
Aideen Hayden
Tom Sheahan