218 Deputy Joan Collins asked the Minister for Finance in relation to the taking out of default insurance by banks, if it is normal practice for a bank to take out default insurance on loans; if there is a legal regulation or any other rule of enforcement stating that a bank must insure its loans against default; if so, with whom this insurance is policy placed; if there is any legal regulation for financial institutions and banks obliging them to retain a provision fund or deposit account to clear defaulted loans; if so, it is the specific regulation; if not, if it is none-the-less common practice for banks to set up such accounts in order to offset defaulted loans; and the time limit within which a bank must clear defaulted loan accounts. [19123/12]

Summary

218 Deputy Joan Collins asked the Minister for Finance in relation to the taking out of default insurance by banks, if it is normal practice for a bank to take out default insurance on loans; if there is a legal regulation or any other rule of enforcement stating that a bank must insure its loans against default; if so, with whom this insurance is policy placed; if there is any legal regulation for financial institutions and banks obliging them to retain a provision fund or deposit account to clear defaulted loans; if so, it is the specific regulation; if not, if it is none-the-less common practice for banks to set up such accounts in order to offset defaulted loans; and the time limit within which a bank must clear defaulted loan accounts. [19123/12]

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Timeline

1. 18 April 2012

   Banking Sector Regulation

   218 Deputy Joan Collins asked the Minister for Finance in relation to the taking out of default insurance by banks, if it is normal practice for a bank to take out default insurance on loans; if there is a legal regulation or any other rule of enforcement stating that a bank must insure its loans against default; if so, with whom this insurance is policy placed; if there is any legal regulation for financial institutions and banks obliging them to retain a provision fund or deposit account to clear defaulted loans; if so, it is the specific regulation; if not, if it is none-the-less common practice for banks to set up such accounts in order to offset defaulted loans; and the time limit within which a bank must clear defaulted loan accounts. [19123/12]

   Source: written

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• Banking Sector Regulation

  xml · EN · 18 April 2012

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• Joan Collins · Asking member
• Minister for Finance · Minister for Finance · Addressed to

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