The country's biggest mortgage lender says it's prepared to write off some debts for mortgage holders - but hasn't yet done so.
Permanent TSB Chief Executive Jeremy Masding also told an Oireachtas Committee this morning that the bank has not yet completed any mortgage-to-rent deals either.
Mr Masding however insisted that PTSB bank is well ahead of the Central Bank's targets for dealing with customers in mortgage distress.
He told the Joint Oireachtas Committee on Finance, Public Expenditure and Reform that the bank had exceeded the 50% Central Bank target for solutions proposed by the end of 2013 by 11 percentage points
And he said the bank won't go chasing every single euro that it's owed.
"We look at each case on a case-by-case basis and I can assure the Committee that the mindset is not to chase all the debt, all the time," he said.
"We will look at each individual customer and should it be appropriate that we use our capital in a formal write-off sense, then I can assure the Committee that we will."
A statement issued by the bank said it had proposed long term solutions to almost 12,000 customers in arrears greater than 90 days by the end of March.