Ms Derville Rowland:

The verification process is one the banks must conduct. Separately the Central Bank samples and checks the banks' work. There is no delay from the Central Bank. The banks are able to get on with it as quickly as they can. These customers were identified, in the main, after March of this year and the banks are going through that process and are limited in their ability to go through the work. The Central Bank would never stop them making payments. The opposite is true. The Central Bank has been on to the banks to get on with these payments as quickly as they can. The Central Bank separately goes back to check the compensation and redress payments to ensure they are in accordance with what they should be, as well as other dimensions to the banks' work. The Central Bank has been very strict with the banks to get on with it to the best of their ability. Some of the banks are limited but I can tell the Deputy that four of the five banks are making substantial progress with that. We have them all timelined to put as much pressure on them to get the job done because we accept it is important they do that.