Michael McGrath (Cork South Central, Fianna Fail)
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My last question is about the proposed new rules from the Central Bank. Mr. Brown gave quite a stark statistic in his opening statement, stating that 68% of first-time buyer mortgages approved by Ulster Bank this year would have fallen outside the new rules. That means that almost seven out of ten people who were approved for a mortgage from Ulster Bank would have fallen foul of the new rules. Is that the essence of what he said?