Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

Does Mr. Duffy accept that, on the face of it, it comes down to AIB's cost of funding and the way the bank has raised money? In 2014, AIB raised money at 2.33% and 2.75%, raising a total of €1 billion in the two bids. In 2015, AIB has raised a total of €1.25 billion, of which €750 million was raised at 0.625% in January and €500 million was raised at 1.375% in March. AIB has control over the restructuring costs and the cost of funding is definitely coming down. I would contend that risk is also coming down.

I wish to make a point to Mr. Bourke. He said the bank does not provide specific detail on the margins the bank makes on mortgage holders, yet Mr. Duffy states the rate the bank charges is based on factoring in risk from mortgage holders. One cannot have it both ways. One cannot say in one breath that the bank does not provide the information and at the same time say that the rate AIB charges is based on the risk that it factored in.

I have two questions for Mr. Duffy. First, can we take it that there will be a reduction in the mortgage interest rate sooner rather than later? Second, will he indicate if he has a figure for the risk factor in terms of the mortgage holder?