Ms Derville Rowland:

The origins of the matter were the subject of a public report in the United Kingdom where there was a serious allegation of deliberately distressing businesses and levelling complex fees. There was an investigation, but it was found not to be the case. However, there were concerns about the levelling of complex fees on businesses that were going through difficult times and a process was established to deal with the matter. An identical process was put in place here. We have been involved in regulatory engagement to make sure the process is delivering in accordance with what it ought to deliver. We have been to the United Kingdom to speak to regulators about the common issues which arise. We have also been on site in Ulster Bank to deal with it. We have had external oversight. There is also an external complaints process on top of the normal complaints channels and we require Ulster Bank to write to the affected customers. The process is open and ongoing and available to customers.