Residential mortgage holders with IBRC have not had their mortgages taken from their accounts since the Special Liquidator took over last week.

The IBRC bank sort codes were suspended when the liquidator took over last week.

This means it has been impossible to transfer monthly mortgage payments out of accounts and into those of the KPMG special liquidator.

The money will still be owed and the mortgage holders will all be written to in due course to tell them about what they have to do to make their monthly payments to KPMG instead.

New mortgage arrangements should be in place within a matter of days.

In terms of bigger loans, IBRC was left with €26bn of loans after NAMA took the loans worth €5m or more from its books.