Oireachtas Joint and Select Committees

Thursday, 4 April 2019

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

Matters Relating to the Banking Sector: Bank of Ireland

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I welcome the fact that Bank of Ireland has met with the representative group of the 200 staff and former staff affected. This issue will not go away. Deputy Michael McGrath and others in this committee have raised this issue and have gone into great detail in terms of the documentation available to us. I refer to verbal commitments, emails received from Bank of Ireland confirming that they would roll on to a tracker mortgage rate of ECB plus 0.75%, and the internal communication, of which we have screenshots, which leaves a very clear impression that there was an entitlement there. I do not want to go into the details because I know that Bank of Ireland has engaged on this issue. I hope that engagement is meaningful and will continue, but I have a series of questions I would like to put to the bank which are quite specific to this issue. I propose to put the questions to the bank through the committee, and perhaps it could respond in detail on each question. I believe that is a helpful approach, rather than going through it now. Some of the questions are quite detailed, and the bank may need to look at documentation in order to answer the questions.

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