The problem as always is that we don't know why the arrears are falling.
It could be because people's financial positions have improved and they are paying more.
It could be because they could always have paid more, but were choosing not to. Now they have chosen to get back on track.
Or it could be because the underlying situation is not improving at all, but the restructurings are just improving the reported figures.
It would be much better if we got information on how many people were servicing less than the interest on their loans. These are in more serious trouble as the balance they owe is increasing.
Brendan