Stephen Donnelly (Wicklow, Independent) | Oireachtas source

In some cases it may cost the bank more money but in other cases it would cost you less money, for example, on interest only. If the interest the bank is getting from the borrower is less than the amount that the bank can borrow, for example, from the ECB, that interest-only loan is not costing the bank money and the bank is profiting from it. The total profit, the total net present value of those mortgages to the bank, increases.