Seán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

The bank could use some of that funding not for restructuring but to reduce the interest charged on variable rate mortgages. It is clear this year it will be higher because the house price fall from the peak will improve this year.

It is inevitable that there will be another increase this year and Mr. Bourke is changing his assumptions. His assumptions may have been valid at the time, but in light of current experience, they are a little severe. I ask that some of the write-back he is giving on mortgage accounts be given to those mortgage holders on the variable rate. That is a request. He can take it or leave it because my time is limited. I can discuss it with him but I think he gets my message.