Does anyone remember the Irish banks being given government funding to deal specifically with mortgage arrears cases?
Putting aside the fact that huge sums of public money and debt has been shoveled into lots of banks to keep them afloat, were they not given additional direct funding in order to specifically deal with / write down / restructure etc. their bad mortgage books?
I seem to remember that being the case but it’s very hard to find information about it now. Lost in the mists of time or conveniently forgotten about. I may be misremembering of course but I get the impression that this money was just used by the banks to help repair their balance sheets and not for the purpose it was allocated.
I'm hoping to get a link to any report or detail about this as I need to write to my local public representatives about the current situation with PTSB and the Project Glas sale. My partner has one of the mortgages that has been restructured and is performing under the MARP process and it seems wrong to me that these 3,500 homes are being sold on.
Thanks
Emmet
Putting aside the fact that huge sums of public money and debt has been shoveled into lots of banks to keep them afloat, were they not given additional direct funding in order to specifically deal with / write down / restructure etc. their bad mortgage books?
I seem to remember that being the case but it’s very hard to find information about it now. Lost in the mists of time or conveniently forgotten about. I may be misremembering of course but I get the impression that this money was just used by the banks to help repair their balance sheets and not for the purpose it was allocated.
I'm hoping to get a link to any report or detail about this as I need to write to my local public representatives about the current situation with PTSB and the Project Glas sale. My partner has one of the mortgages that has been restructured and is performing under the MARP process and it seems wrong to me that these 3,500 homes are being sold on.
Thanks
Emmet