24 Sep 2013, 15:53
Central Bank Governor Prof Patrick Honohan will tomorrow appear before the Oireachtas Committee on Finance, Public Expenditure and Reform to discuss mortgage resolution, banking and credit provision issues.
24 September 2013
The meeting comes after the detailed engagement by the Committee with the four main banks in early September.
Committee Chairman Ciarán Lynch said: “With Central Bank figures showing that nearly 100,000 home loans are now more than three months in default, meetings with the four main lenders earlier this month provided this Committee with the opportunity to assess progress on mortgage arrears.
“The Central Bank put targets in place that, by the end of June 2013, banks should have proposed sustainable mortgage solutions for 20 percent of distressed borrowers. However, it has emerged from our engagement with lenders that there has been a lack of consistency in dealing with these borrowers. The Committee will wish to explore with Prof Honohan how these Central Bank targets might be made more specific to ensure sustainable, long term solutions to the mortgage crisis can be realised. The Committee is also concerned about the low level of funding from banks to SMEs, which is so critical to job creation and economic recovery.”
“Wider macro-economic challenges facing Ireland may also feature in tomorrow’s discussions, including the anticipated exiting from the bailout programme at the end of the year.”
This meeting commences at 2 pm tomorrow Wednesday 25 September in Committee Room 4, Leinster House 2000.
Committee proceedings can be followed live here.
Media enquiries to:
Paul Hand
Houses of the Oireachtas,
Communications Unit,
Leinster House,
Dublin 2
P: +3531 618 4484
M: 087 6949926
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