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

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I thank the Governor, Professor Lane, and Mr. Sibley. Just so that we get the full picture on this issue, the Central Bank issued a statement yesterday saying that 8,200 customer accounts have been identified where people were not given the opportunity to go back to a tracker or the tracker rate was higher than it should have been. Could Professor Lane just summarise for us the 2010 to 2011 period? I understand the information is in the public domain. Bank of Ireland, for example, reinstated 2,100 customers in 2010 and the Central Bank was involved. Apart from the 2012 to 2015 Permanent TSB issue, could Professor Lane summarise, with numbers, what is on the public record in terms of individual banks and the tracker mortgage issue from that period?

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