"This time banks can be and will be…part of the solution rather than being the problem. The payment breaks are the most visual example of that, maybe, the most direct one."
But the question of whether the banking industry will be part of the solution to the financial turmoil that has accompanied the health emergency is an important one that will ultimately be answered by its actions in the months and years to come. But if adopted, the standard approach to arrears would only have resulted in their situation being made even worse and there was a realisation that this was not in anyone's interest, not least the banks.
Certain fees, like on contactless payments, have been waived temporarily and some banks have even given funding or staff time to charities and research.Both Bank of Ireland chief executive, Francesca McDonagh, and Peter Roebben, confirmed this week that they don’t anticipate that the six month payment break facility will be extended further when it expires.
First quarter results from the main lenders last week indicated that the souring of loans has not yet officially got underway. That was the experience during and after the last financial crisis as Irish lenders, out of favour with the international lending markets and suspicious of the creditworthiness of those seeking credit, retrenched to sort out their balance sheets.
But that must not be an excuse for a pulling up of the liquidity ladder when viable companies and normally creditworthy households need a leg up.
willgoodbody I am afraid: not a hope :-(
willgoodbody I'll save your surprise. No. No they haven't and they never will
willgoodbody Ye guys deleted my original response?
willgoodbody Just as shite 2nd time around 😂