Oireachtas Joint and Select Committees

Wednesday, 29 April 2015

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of the Banking Sector in Ireland (Resumed): Ulster Bank

2:00 pm

Mr. Stephen Bell:

The tracker rate would be closer to 2% because there is a 1% margin over the European Central Bank rate, which has been closer to 1% in the past. The reduction can make a material difference, although I admit it does not work for everybody to the same extent.

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