Bank focus shifts to mortgage crisis

The Central Bank is focusing all of its energies on solving the ongoing mortgage crisis and may introduce targets of numbers of mortgages that the banks have to restructure the governor of the Central Bank Patrick Honohan said.

Staff at the Central Bank are “tearing their hair out,” over the failure of the banks to deal with the mortgage crisis and now that the Anglo promissory notes have been dealt with mortgage debt will become the banks’ sole priority.

“I fully agree that not enough has been achieved on the mortgage arrears,” he said.