Michael McGrath (Cork South Central, Fianna Fail)
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Professor Lane has said that so far the cost of compensation and redress is €78 million in respect of 2,600 customers. If we extrapolate from the figure pro rataand say there are in the region of 10,000 customers - I know that it is 10,000 accounts - we are looking at a bill of about €300 million. We know that in the cases of PTSB and Springboard Mortgages, the cost in respect of 1,400 customers was over €40 million. If we extrapolate from these figures and include the other 7,100 customers affected prior to the examination, the institutions are looking at a €500 million problem.