Ms Derville Rowland:

I do not accept that it was the courts that brought this to the attention of the Central Bank. I am aware of a case that nearly went to a full hearing in the Supreme Court and did not proceed at a late stage in advance of that hearing. That certainly represents the difficult legal terrain that some of these cases sit within because that is representative of a hotly disputed issue, going all the way to the highest court in the land to be withdrawn at a late stage.

I make no comment about the Financial Services Ombudsman save to say that we have had very good current engagement with that office and it stands ready to do the right thing by dealing with complaints brought to it. From our perspective, considerable work was done on the tracker matter and I know that the enforcement investigations were open in advance of that Supreme Court decision and we were committed to pursuing them. We would have continued. That case presents difficulty but we had started the enforcement case before that and we are fully committed to bringing it forward.