Dáil Éireann Debate, Wednesday - 6 April 2016
162. Deputy Pearse Doherty asked the Minister for Finance when the Central Bank of Ireland's investigation into tracker mortgages will be concluded; the date he will revive it; the date the banks will revive it; and when it will be publically available. [6154/16]
Amharc ar fhreagraI understand that the question should have read 'receive' instead of 'revive' and I will answer the question accordingly.
The Central Bank have informed me that with regard to the examination of tracker mortgage related issues (the Examination), it is important that each lender carries out a comprehensive and robust review of their mortgage books, which achieves a fair outcome for all customers. While the Central Bank wish to have the Examination completed as soon as possible, it also recognises that this is potentially a significant undertaking for lenders and it is important that they are given the necessary time to complete it.
I have been told that the Central Bank expects significant progress to be made by all lenders before the end of 2016 and the Examination will remain a priority for as long as it takes to address all issues and deliver the right outcomes for customers. The Central Bank have said that they will provide public updates through their web-site throughout the Examination, with the next update to be provided by the end of April 2016.
