179. Deputy Clare Daly asked the Minister for Finance in relation to default insurance on banking loans, if this is normal practise; if there is a legal regulation or any rule of enforcement stating that a bank must insure its loans against default; with whom is this insurance policy in place; if there is any legal regulation for financial institutions and banks to retain a provision fund or deposit account to clear defaulted loans; if yes, what is the regulation, if no, is it common practice to set up such accounts regardless and time limit within which a bank must clear defaulted loans. [46256/12]

Summary

179. Deputy Clare Daly asked the Minister for Finance in relation to default insurance on banking loans, if this is normal practise; if there is a legal regulation or any rule of enforcement stating that a bank must insure its loans against default; with whom is this insurance policy in place; if there is any legal regulation for financial institutions and banks to retain a provision fund or deposit account to clear defaulted loans; if yes, what is the regulation, if no, is it common practice to set up such accounts regardless and time limit within which a bank must clear defaulted loans. [46256/12]

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• Banking Sector Regulation

  xml · EN · 23 October 2012

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