And, as is evident from the significant reduction in mortgage arrears, much of this has worked, primarily through the engagement between lender and borrower, such that there are now c.94,000 restructured PDH mortgage accounts, 86% of which are meeting the terms of the restructure arrangement21. But as is also evident, serious problems still exist.
15  10  McCarthy, Yvonne and Kieran McQuinn (2013), “Credit conditions in a boom and bust property market”, Central Bank of Ireland Research Technical Paper, No 8/RT/13. 11  See Honohan Patrick (2010, 16), “The Irish Banking Crisis Regulatory and Financial Stability Policy 2003–2008: A Report to the Minister for Finance by the Governor of the Central Bank”.