Oireachtas Joint and Select Committees

Tuesday, 20 December 2016

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Banking Sector in Ireland: Central Bank of Ireland

11:00 am

Mr. Ed Sibley:

The engagements are ongoing with a number of banks. The larger domestic banks, which have also been before the committee, have disclosed numbers but even with those banks there is some work ongoing. One has to understand that for each potentially impacted borrower, there is a potentially different contract. There are hundreds of thousands of contracts to be gone through. We are working with each of the banks, some of which are no longer authorised in this jurisdiction, to ensure that the review is thorough, complete and gets to each potentially impacted customer to stop the harm and put in place redress and compensation. It will be ongoing with all banks. We will be getting regular updates from all banks.

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