driving the resilience of individual firms is critical in ensuring that consumers can trust that deposits are safe, investments are protected and insurance policies will pay out when a claim is due. in addition, prudential and conduct supervisors have a shared interest in : business model sustainability ; governance, risk management and control arrangements ; and the culture of regulated firms. our new strategic plan builds on our extensive existing consumer protection framework and reinforces our strategic focus on the conduct of firms. this is essential, given the wide range of financial misconduct scandals internationally and domestically, including the tracker mortgage scandal. it is also reflected in the evolution of our supervisory approach in recent years to strengthen its focus on conduct and cultural issues. the supervisory phase of the tracker mortgage examination is now in the final stages. as of end - february 2019, lenders have identified nearly 40, 000 customers who suffered unacceptable 1 / 5 bis central bankers'speeches harm from tracker mortgages - related failures. this overall number is unchanged since our last update based on date at the end of december. total redress and compensation paid has increased by €18 million since the end of december to €665 million now. by the end of this month, we expect the number of customer accounts awaiting redress to be down to about three hundred, which will be mostly paid in april. in finalising our supervisory work, our focus at all times is to ensure that all affected groups of customers have been identified and remediated. this work has now been completed at the majority of lenders. in the case of the remaining lenders, we are working to ensure that these have addressed satisfactorily any remaining issues affecting groups of customers and all eligible groups of customers have been included for redress and compensation. we expect this work to conclude in the coming weeks, with a final report published thereafter. while the “ project ” phase of our supervisory work is nearing completion, any further individuals or groups that are identified will receive the same treatment under our standard supervisory approach. finally, our enforcement work is ongoing. these investigations are detailed and forensic, involving the scrutiny of thousands of documents and the conduct of interviews to establish the exact circumstances of matters under investigation, including the actions of regulated entities and individuals. while we have a strong suite of existing powers, the findings of our report into the behaviour and culture of the irish retail banks last year set out additional reforms that include the proposed introduction of a new individual accountability framework. this would ensure clearer lines of accountability

90 days continued to decline in q4 2018, marking the twenty - first consecutive quarter of a fall in the number of accounts in this category. the number of pdh mortgage accounts that were classified as restructured at end - december was 111, 504. of these restructured accounts, 87 per cent were deemed to be meeting the terms of their current restructure arrangement, the same as last quarter. nonetheless, secured property lending does require that the underlying property can be repossessed as a last resort. the extensive protections that are in place for distressed borrowers do not preclude loss of ownership – although the ccma and related protections has meant that repossessions in ireland are relatively low in an international context. in 2018, 877 primary dwelling properties have been repossessed : one third as a result of court actions and the remainder through the sale or surrender of the property. 3 / 5 bis central bankers'speeches we are acutely conscious of the vulnerabilities of those borrowers at risk of losing their homes and maintain the focus of our supervisory work on ensuring all lenders adhere to the ccma. furthermore, we continue to urge all borrowers and lenders to engage and seek solutions that minimise loss of ownership. notwithstanding the extensive use of forbearance and restructuring, other tools also have a role to play. in particular, the sale of loan portfolios to non - bank investment funds reduces the risk of financial instability in the event of a future downturn, since the risk is spread more widely across the financial system. in terms of national risk management, the transfer of credit risk and funding risk to investment funds that buy loan portfolios constitutes a national reduction in macrofinancial risk, given that investors in these funds are primarily overseas. critically, the sale of such portfolios does not affect statutory consumer safeguards – the strong legislative framework ensures that borrowers benefit from the same consumer protections regardless of whether their loan is held by a bank or a non - bank. our twin focus on resilience and consumer protection explains why we have grave concerns about the “ no consent, no sale ” bill. given that the consumer protection framework is identical whether a loan is held by a bank or a non - bank, the bill would not add any extra degree of regulatory protection for consumers. at the same time, it would severely damage resilience, since the transferability of loans is a central feature in a modern financial system. in addition