On reflection, I don't understand the Central Bank's figures and have sent them this email:
Yesterday, you said that 120,384 borrowers had accepted an Alternative Repayment Arrangement in 2014 and 2015.
But according to the Quarterly Arrears figures:
Accounts restructured at end of 2013: 84,053
Accounts restructured at end of 2015: 120,739
Total accounts restructured during 2014 and 2015: 36,686
Estimated borrowers restructured during 2014 and 2015: 30,000 ( 36,686/1.2)
Some of those who accepted an ARA in 2014 and 2015 were not in arrears, but the vast majority were.
So where are the other 90,000 borrowers?