Oireachtas Joint and Select Committees

Wednesday, 29 January 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Report on Licensed Moneylending Industry: Central Bank of Ireland

5:15 pm

Mr. Terry Murphy:

I understand that point. However, to be clear, it is not an interest rate that applies on a running basis to a sum of money. It is a contracted-for-repayment amount at the outset.