Oireachtas Joint and Select Committees

Tuesday, 9 April 2019

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

Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

My final question concerns the mortgage tracker examination. The total figure remains at just under 2,000 mortgage accounts. There has been no change in material terms since the witnesses' last visit and the last update. Regarding the cost to the bank to date, €60 million has been paid out in redress and compensation. Is that correct? Mr. Masding might add in the administrative cost to the bank of running the tracker mortgage unit. It was stated in the questionnaire that has more or less been wound down now. What has been the total cost to the bank? I assume these figures relate only to the current examination and not to the earlier one in 2010 or 2011 when the bank was also involved.

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