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

Going back to Senator O'Donnell's point, as early as 2010 - I accept Professor Lane was not there - the Central Bank was aware of a serious issue with one bank in particular about tracker product being denied and then other banks in relation to tracker issues as well, and communication with customers to try to get them onto a fixed rate. The reason the Central Bank gave for not setting up a broader investigation at that time is because Permanent TSB was going through the courts for a number of years. The Central Bank knew at that stage there were serious issues across a number of institutions. Did no one say the bank needed to have a deeper look at it? Nothing in the Permanent TSB case going before the courts meant that the Central Bank could not examine the other institutions.