Central Bank puts focus on mortgage arrears

Left to their own devices, Irish banks will do little to solve their own mortgage arrears problems but some policies to clean up the loan books may make matters worse, according to the Central Bank, writes Eamon Quinn.

The new study reviewing the Central Bank’s policies of the huge arrears issue was written by its own staff members, including deputy governor Sharon Donnery, who also chairs a major group of the ECB on non-performing loans, or NPLs.