Oireachtas Joint and Select Committees

Tuesday, 23 January 2018

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Tracker Mortgages: Allied Irish Banks

4:00 pm

Mr. Bernard Byrne:

It was also the interpretation of the Central Bank relating to the compensation for that matter. We have ended up with a payment for the breach of contract as opposed to something else. We have agreed that customers are in the framework which gives people the ability to appeal their own individual circumstances but, in overall terms, the position around the prevailing rate is one that we have worked through with the Central Bank.