Mr. Robert Mulhall:

If I might be allowed the time, it is worth elaborating on this so people can absolutely understand this issue. Its root cause dates back to 2008 when trackers were withdrawn. At that time, the bank did not do a good enough job of understanding the confusion, whether customers' rights were being infringed or we were not communicating with customers in this regard. As Deputy McGrath quite correctly pointed out, among our contract holders were customers who could go onto a variable rate, fixed rate or prevailing tracker rate. When we withdrew the tracker product, there was no prevailing tracker rate. That was an error. We should have reinstigated what a prevailing tracker rate at that time should have been. This is what has created this moment of confusion.