Ms Derville Rowland:

I am glad to be able to report that we wrote back to the Oireachtas on 1 May 2018 and No. 4 in the letter was with regard to the fact we were requested to inform the committee how the Central Bank assessed the prevailing rate issue, to include the factors the Central Bank took into account in concluding the interpretation of the prevailing rate as been the rate that applied at the time a person came off the fixed rate. We provided a response in the correspondence. There was no oversight on anybody's part. I am glad to report this is detailed in the letter of reply.