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

I hear all of that. However, I am making the point that differential pricing in our banking system is happening under the nose of the Central Bank. The bank to which I refer advertises a discounted managed variable rate for a period for new customers which is not available to existing customers. Existing customers can only move once to a managed variable rate, they cannot update the valuation and avail of a lower rate and if they want to be on a fixed rate, they are paying a higher fixed rate than a new customer. It is classic differential pricing and I do not see anything in the initiatives the Central Bank has undertaken to deal with that.