Ms Sharon Donnery:

We have been before the committee extensively to discuss this. I emphasise again that what happened was absolutely unacceptable. The tracker mortgage investigation remains one of the largest investigative and supervisory pieces of work the Central Bank has ever done. I am not familiar with the specifics of the case the Deputy mentioned but, as the Governor said, I think a number of individual cases are still going through the Financial Services and Pensions Ombudsman and we have a very good working relationship with the ombudsman in understanding what those issues are. One of the things we found during the investigation was that while there were groups of borrowers in the way the Deputy has described, it was also the case that many different contracts were in place, with many different files, many different adaptations of contracts and so on. There are therefore cases in which there are very specific circumstances or in which the dates on which particular contracts were put in place, for example, differ quite a bit. I think that in a number of the cases that have gone to the ombudsman there are bespoke and individual circumstances. It absolutely remains the case, however, that firms are expected, if systematic or broader issues are identified, to resolve those issues.