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

I welcome the Governor of the Central Bank, Professor Lane, and his colleagues to the committee. It is important to put the scale of this issue in context. Professor Lane has identified 13,000 customer accounts as being impacted in this examination. Prior to 2015, there were 7,100 accounts identified, which means more than 21,000 are already confirmed. The cost of this phase, in terms of redress and compensation, is €120 million across 3,300 customers. On a pro ratabasis, upwards, the overall cost of this examination will be €500 million, and this is likely to rise as more customers are identified and the Central Bank starts levying fines. It is fair to characterise this as one of the great consumer rip-offs in our State's history. What people want to know is when this nightmare will end for the customers affected. In regard to the people who have still not been repaid the money that was wrongly taken from them and have not received compensation, will Professor Lane say this morning when they will get that money?