Updated 13.00

The Chief Executive of the country's largest mortgage lender says it is his duty to avoid using public money to write off mortgage debts.

Jeremy Masding of Permanent TSB says his bank has set aside €1.4 billion to deal with possible mortgage losses.

But he's told an Oireachtas committee that only €11 million of mortgage debts have actually been wiped off, while the bank has initiated legal proceedings against 1,600 mortgage holders.

Executives from the bank are attending the Oireachtas finance committee.

The CEO of Permanent TSB, Jeremy Masding, is also expected to appear before the committee.

The Oireachtas Committee is seeking a consistent approach in dealing with distressed borrowers.

The CEOs of AIB, Bank of Ireland and Ulster Bank have already faced questions on the mortgage crisis over the past two days.

Today's hearing will be the final meeting on the financial services sector.

Speaking on the Pat Kenny Show on Newstalk, economist Eddie Hobbs said he believes the banks are stalling because they simply can't afford to give debt relief to those who need it:

Lobbying regulations

Meanwhile, the committee will discuss the regulation of lobbying with the OECD later.

The government has forwarded the draft heads of the Regulation of Lobbying Bill 2013 to the Committee.

The Bill aims to provide for a register of lobbyists to make information available on the identity of those communicating on specific policy, legislative matters or prospective decisions with office holders or public officials.

It also provides a framework for holding those engaged in lobbying accountable for the manner in which they do so and will restrict possible conflicts of interest.