The latest available data indicates that terms are being met for 88% of this more recent wave of restructures – much higher than what was being experienced with earlier restructures, most of them offering only very temporary relief.
The Central Bank’s audits do suggest that the restructures are now being designed in a more credible way, though of course it’s early days yet and not all of them will work in the long run. Personally I would prefer the lenders to err on the side of liberality, in order to help speed an assured resolution of the problem of arrears.