Here are the questions I would like to see asked
1) Have you reached an impasse with any of the lenders? If so, how many? What happens next?
You have done a good job in persuading the lenders to go well beyond their legal obligations and give trackers back to some borrowers whom the lenders did not think had a legal right to them. But are there any remaining cases where you think that the lenders should restore the tracker, but the bank is sticking to their guns? What happens next? Is it just up the affected borrowers to go to the High Court?
2) There are some groups who are expecting back their trackers, but you agree with the lender's refusal? Can you tell us which these are so that these borrowers know where they stand?
The AIB Prevailing Rate customers-
Central Bank agrees with AIB
The ptsb then current customers
The ptsb discount trackers
The remaining BoI staff trackers
KBC trackers before a certain date
The EBS home loan customers.
3) Do you agree with the SSM's definition of a Non Performing Loan?
Consider ptsb's 4,300 performing split mortgages.
Let's say a borrower has a mortgage of €200k, €100k of which is warehoused.
The borrower is meeting his repayments in full on the €100k active loan.
The mortgage rate is ptsb's SVR of 4.5%
This customer is paying 2.25% on the entire loan.
Which is around half a percentage point higher than the average mortgage rate across the eurozone.
Yet, you are telling ptsb to sell those loans as you classify them as "non peforming"
These loans are very profitable.