Mr. Brendan Burgess:

Twice. An ordinary consumer should not have to do this to highlight an issue. Although there would be less of a need for the legislation, the Central Bank almost needs the weapon in its quiver. I would prefer the Central Bank to have it and not use it than not to have it.

According to the interim reports of the three banks, as of the first half of 2016, permanent tsb's cost of funds was 0.75%, Bank of Ireland's was 0.73%, and AIB's was 1.28%. Bank of Ireland said it was making 0.37%, 37 basis points, on tracker mortgages. All the banks are making profits on tracker mortgages, notwithstanding the argument about the drag of the legacy issues. While the profits are not as big as the profits on non-tracker mortgages, they are very profitable.