DUBLIN, April 30 (Reuters) - Ireland's central bank said on
Thursday it expected lenders to set aside a prudent overall
provision for tens of thousands of coronavirus-related loan
breaks, before such provisions are taken at the individual
borrower level.
Ireland's five retail banks, specialist and non-bank lenders
agreed on Thursday to extend loan repayment breaks for
customers hit by the coronavirus crisis to six months from three
months after granting over 65,000 mortgage breaks and more than
22,000 business breaks to date.
"The Central Bank expects lenders to prudently assess the
level of distress in their loan books and for this to be
reflected in provisioning levels, notwithstanding that
provisions may not yet be taken at an individual borrower
level," the regulator said in a statement.
(Reporting by Padraic Halpin; Editing by Mark Potter)