Oireachtas Joint and Select Committees

Tuesday, 16 January 2018

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Tracker Mortgages: Discussion

2:00 pm

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

No. This is a part of a concern I had in the second half of last year. The figures for those who were affected by this issue had to be agreed by the Central Bank. When the figures were presented to the Central Bank, it ultimately decided if the figure was too low. That involved the Central Bank looking at the audit trails, its own staff engaging with the staff of the four banks and then the Central Bank making an adjudication as to whether the figures were correct. That is why at the time when I was speaking on this matter in here and elsewhere in the Oireachtas, I said on a number of occasions that just as important to me as dealing with the people who have been identified - and know they have been identified - is all those people who do not know yet that they were a victim of this.

The word "cohorts" was used to identify this. In many technical ways "cohort" is the right word for this. For me "cohort" is just a different word for lots of people's lives. The figures Deputy Michael McGrath used in opening his questions to me gives a sense of the number of people affected by this now.

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