Ms Helen Dooley:

The Deputy is right. It could be construed as a contractual breach. The way we have characterised it in our communications to customers, because from our point of view we failed to maintain a prevailing tracker rate, is what we call a service failure or a service breach and, unfortunately, we have them in other scenarios aside from mortgages. The amount of €1,000 that we have offered for that service failure, and Tom Kinsella mentioned this earlier, is the type of amount that the ombudsman would typically award for a failing of this nature.