Ms Derville Rowland:

I have been pointed in the direction of some information about the deadline that I did not have to hand when the question was asked. A fairly detailed report was published by the Central Bank in March this year and the answer to the issue of the deadline lies on pages 6 and 12 of that report. Phase two of the examination is said to be ongoing, and in regard to meeting the December 2016 deadline, on page 6 it states that nine lenders had submitted the phase two reports with the remainder being engaged in phase two reviews. It goes on to explain the use of powers and on page 12 it explains that the timelines have been set but continue to be monitored on a lender-by-lender basis because they have to take account of the size of the relevant lender's loan book, the scale and complexity of issues and the complexities associated with a thorough review being completed. The original deadline was met by nine institutions but the quality of the work being done was an issue and this explains the extension.