Central Bank governor Honohan: Mortgage arrears crisis ' the most important issue'

The Governor of the Central Bank has said resolving the mortgage arrears crisis is now the most important domestic issue being dealt with.

Patrick Honohan is appearing before the Oireachtas Finance Committee this afternoon.

He has admitted banks were slow to step up to deal with this crisis, but added they were now responding.

"We want to be sure (the banks) are delivering the products that are needed, in the quantity needed," he said.

"We are absolutely committed to this. It is absolutely the most important domestic policy issue at present."