We will continue to review the banks’ operations and strategies and where there are deficiencies or we think things should be done better we will let them know. Addressing mortgage arrears was never going to be a short-term issue. We have always believed it was going to take time to tackle the issues and take a number of years to work out.
We are now at a point were progress is evident and, notwithstanding specific areas for improvement by banks, we are moving along the right path. Mortgage arrears remain a significant priority for the Central Bank and we will continue our programme of intensive oversight of the banks’ progress. 2  BIS central bankers’ speeches