Oireachtas Joint and Select Committees

Tuesday, 30 January 2018

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

Tracker Mortgages: Bank of Ireland

7:10 pm

Ms Francesca McDonagh:

The Senator is right that it is not a formulaic approach. For the more complex cases, there is a discretion and a discussion about the individual circumstances and a case-by-case basis may mean that the ratio between redress and compensation may vary significantly. For owner-occupier cases, which are typically the ones with higher redress and compensation, we have the breakdown by quartile and range but I do not have the split between redress and compensation. I do not know if Mr. O'Beirne wants to add any more. We can commit to revert further after the meeting, however.

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