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

On a related point, the customers who are in the cohort of this 3.67% prevailing rate issue strongly argue that they should have been put on what would be regarded as an actual tracker rate. I have looked at the terms of the mortgage contract, particularly term 3.2, setting out customers' entitlement to revert to a further fixed rate at the end of their period on the fixed rate, conversion to a variable rate or conversion to a tracker interest rate at the bank's then prevailing rates appropriate to the mortgage loan. The bank seems to have arrived at the view that the prevailing rate for it is the ECB rate plus 3.67%. Has the bank reached a conclusion on that issue? Are those customers in the numbers that Mr. Byrne set out of affected customers or does the bank deem those customers to not be affected? How many are there?