The move if for customers affected by Covid 19.
Following a meeting with the Finance minister, the banks are working on a simplified application process to make it easier for customers to receive support.
Banks have also agreed that any covid 19 applications for a payment break will not adversely impact on credit records and court proceedings will be deferred for 3 months.
CEO of the Banking Federation, Brian Hayes, says the plans require co-operation from regulatory authorities here and in Europe.
