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

Photo of Gerry HorkanGerry Horkan (Fianna Fail) | Oireachtas source

We had some figures from AIB last week. I do not know if the witnesses had a chance to examine the transcript of the meeting. I will be asking for it. I just want to identify it. It is all very well if there is a margin error of less than 1% and a person gets a couple of thousand euro and a bit of compensation. There is a phrase on Appendix 2: "Fair value compensation interest and fair value interest calculated per the group refund standard, subject to a minimum of 5% of the refund value." Will the witnesses explain that to the average person who is trying to read it? What does it really mean?

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