The Financial Regulator Cyril Roux says solving the mortgage arrears crisis is a top priority.
Mr Roux said that the failure to find a solution to the crisis is stopping full economic recovery.
He said that both banks and borrowers need "closure" about what is going to happen in cases where they simply cannot afford to repay their loans.
"Post-programme monitoring of the Troika will continue throughout 2014 and beyond in relation to Ireland's progress in fixing its mortgage arrears crisis," he said.
"It shall continue to be a top priority.
"The high level of arrears weighs on Ireland's banking system, acting as a drag on the economy, on new lending and profitability of the banks."