216 Deputy Joan Collins asked the Minister for Finance with regard to mortgages and other loans advanced by banks, the mechanism by which banks extend loans and facilities to clients; the process by which banks raise the moneys they loan out and where that money comes from; if it is true to say that, typically, a bank seeks firstly to secure the written undertaking of a would-be borrower to repay a loan over a number of years and then uses that pledge or promissory note to raise the necessary loan from other institutions or individuals by pledging or selling-on the document that the would-be borrower has signed; if it is standard or common practice for banks to sell or trade onwards the agreements they have put in place with their borrowers; and if it is the case that the signature of the proposed borrower is most often in effect sold on by the institution in order to raise a line of credit that will in part benefit the borrower. [19121/12]

Summary

216 Deputy Joan Collins asked the Minister for Finance with regard to mortgages and other loans advanced by banks, the mechanism by which banks extend loans and facilities to clients; the process by which banks raise the moneys they loan out and where that money comes from; if it is true to say that, typically, a bank seeks firstly to secure the written undertaking of a would-be borrower to repay a loan over a number of years and then uses that pledge or promissory note to raise the necessary loan from other institutions or individuals by pledging or selling-on the document that the would-be borrower has signed; if it is standard or common practice for banks to sell or trade onwards the agreements they have put in place with their borrowers; and if it is the case that the signature of the proposed borrower is most often in effect sold on by the institution in order to raise a line of credit that will in part benefit the borrower. [19121/12]

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• Banking Sector Regulation

  xml · EN · 18 April 2012

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