As the Tánaiste knows, Permanent TSB, a majority State-owned bank, is selling on over 6,000 loans. The mortgage holders involved are fully meeting their restructured arrangements. The bank is doing this contrary to the Central Bank's code of practice on the transfer of mortgages. That code holds that a loan secured by a mortgage on residential property may not be transferred without the written consent of the borrower. Does the Tánaiste support the suggestion made by the former Minister for Finance, Deputy Noonan, that best practice dictates that the code be applied by all institutions to all classes of residential property? Will he support me in making sure that this code is mandatory for all lenders when I introduce legislation on same in the new year?

If and when the Deputy introduces legislation, it will get fair consideration from the Government and the Minister for Finance, Deputy Donohoe, will respond to it. This is a sector that is regulated by the Central Bank. Loans that are transferred from one lender to another maintain the protections for borrowers that the Central Bank imposes through its codes and rules.