Peadar Tóibín (Meath West, Aontú) | Oireachtas source

Is it possible for us to get a document outlining the rates that are being achieved by banks in Ireland from the ECB because there is a significant differential between the rates that they are receiving from the ECB and those they are charging to customers? One also needs to take into consideration that there has been a fair hike in bank charges in recent times as well. I understand that their business model was radically altered by the pandemic and they are going to have to deal with impaired loans and a decline in non-interest income but if we could at least get a document with those figures, I would appreciate it.

The mandate of the Central Bank states it works "in the best interests of consumers" and goes on to say there is a need for "a positive consumer focused culture" within financial firms. Their home is the biggest asset that most consumers have. The Central Bank has observed mortgage distress and the sale of those distressed mortgages to foreign vulture funds over the past number of years. Reflecting on that approach, should the State in hindsight have adopted a more consumer-focused approach? Has the Bank examined alternative approaches to that process?