Central Bank deputy tells banks to sort out running sore of home mortgage arrears

According to new figures, 95,000 home loans – or 13% of all home mortgage loans in the Republic – were categorised by the lenders as facing shortfalls, deputy governor Ed Sibley said

Ed Sibley, deputy governor of the Central Bank, told a banking industry audience that banks 'need to do more' to resolve the arrears crisis.

A call by a Central Bank chief that lenders finally sort out the running sore of mortgage arrears has been welcomed by debt advisers and mortgage brokers. 

Deputy governor Ed Sibley told a banking industry audience that banks "need to do more" to resolve the arrears crisis which in the Republic is characterised by long-term arrears carried from the last financial crisis of a decade ago.