Professor Patrick Honohan:

They're very complicated processes, and it has been very costly for the banks, and I don't care whether it's costly or not for them, but it's very costly for them to put in these procedures which try to ensure that they deal fairly with people. It's not like a switch on and switch off, you have to do this and this and this, and we want to make sure that they're doing it and we've found deficiencies, but we have also found that the banks are, as we knew they were, coming up ... largely coming up to the plate, but with identified deficiencies, which they will fix.