John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

We are dealing with the Central Bank's final report on tracker mortgages, which was published last July. From the Central Bank we are joined by Ms Derville Rowland, director general, Ms Gráinne McEvoy, director, and Ms Seána Cunningham, director.

I draw the attention of witnesses to the fact that by virtue of section 17(2)(l) of the Defamation Act 2009, witnesses are protected by absolute privilege in respect of their evidence to the committee. However, if they are directed by the committee to cease giving evidence on a particular matter and they continue to so do, they are entitled thereafter only to a qualified privilege in respect of their evidence.

They are directed that only evidence connected with the subject matter of these proceedings is to be given and they are asked to respect the parliamentary practice to the effect that, where possible, they should not criticise or make charges against any person, persons or entity by name or in such a way as to make him, her or it identifiable.

Members are reminded of the long-standing parliamentary practice to the effect that they should not comment on, criticise or make charges against a person outside the House or an official either by name or in such a way as to make him or her identifiable.

I invite Ms Rowland to make her opening statement.