I thought he had pulled out
Jeremy Masding will be before the Oireachtas Finance Committee on Tuesday
14.00Finance, Public Expenditure and Reform, and Taoiseach (Joint) CR4, LH 2000
AGENDA: Matters relating to the sale of loan portfolios to private investment firms [Mr Jeremy Masding, Chief Executive Officer, Permanent TSB]
The move comes after CEO of the Irish Mortgage Holders' Association, David Hall, confirmed that he is attempting to secure funding to buy up to 6,000 of PTSB's restructured loans.
These include split mortgages, where the bank agreed to freeze a portion of the distressed loan, interest free, and allow the borrower to make repayments only on the remainder.
It is believed that PTSB is selling up to €800m of restructured loans...
...Speaking to RTÉ News, Mr Hall confirmed that conversations have taken place with a UK bank and a UK investment fund with a view to bidding for the loans.....
....As it stands Mr Hall's entity would not be regulated by the Central Bank, although he points out that it would be a registered, regulated charity.
"Ultimately if required we will be regulated, but this is a non-profit endeavor designed to save thousands of Irish people from an uncertain future," he said.