Paul Coghlan (Fine Gael) | Oireachtas source

I welcome the delegation from Ulster Bank. I am pleased they have restored the bank to profitability and I hope they will stabilise matters at the 175 bank branches. I hope Ulster Bank will not close any further branches. I do not think they anticipate doing that. Ulster Bank has 2 million customers.

A major issue for the committee has been the difference between the SVR and the ECB rates. I accept the point that interest rates range from 3.5% to 4.3%. What are the specific component parts? Are the 2,000 customers who will not engage with the bank being prosecuted for recovery of the money? Do I understand from the replies that in the case of somebody who voluntarily surrenders the house, the bank will go after the client for the residual debt, even where the individual may not be able to afford it?

How does Ulster Bank handle the case of clients who did not engage until they had been prosecuted, but following prosecution they engage with the bank?