Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

The committee will revisit this issue and I hope the delegates will take on board some of the points that have been made as the bank reviews it.

On standard variable rates, it appears that in almost all circumstances the bank's customers would be better off on a fixed rate than a variable rate. Obviously, the danger is that variable rates could go down, however unlikely that may be. The bank has 47,000 customers on variable interest rates. What is the bank doing to inform those customers of better offers within the bank and, under the new rules in place since 1 January, better offers in other banks? Are the witnesses willing to reconsider the bank's position in regard to having a stubbornly high variable interest rate of 4.5% for loans with a loan-to-value ration of more than 80%? That rate has not changed since 2015. Is it under review?