February 21, 2018 / 1:51 PM / 6 months ago

Ireland to review legal framework covering bank loan sales -minister

DUBLIN, Feb 21 (Reuters) - Ireland will review the regulatory framework covering the sale of loan books, Finance Minister Paschal Donohoe said on Wednesday, amid political opposition to a planned sale by majority state-owned permanent tsb (PTSB).

“It is a strong environment, it has the right level or regulation in place, but I will look at it afresh in light of the kind of change that could develop to make sure it’s as strong as it needs to be,” Donohoe told reporters.

Under pressure from regulators, PTSB last week kicked off a formal sales process for a 3.7 billion euro portfolio.

Donohoe said the future health of the bank was vital to the economy and that it was very important its high level of non-performing loans are addressed. (Reporting by Padraic Halpin; editing by Jason Neely)

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