Oireachtas Joint and Select Committees

Wednesday, 29 January 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Report on Licensed Moneylending Industry: Central Bank of Ireland

3:55 pm

Mr. Bernard Sheridan:

Information on all of these types of loans is contained in the register we publish. The cost of credit on a loan of €150, the borrowing period being over 20 weeks, could be €45. That gives an APR of 187%. Essentially, the borrower has to repay €195 over the 26 weeks.