Ms Francesca McDonagh:

I talked earlier about the context of this. The tracker mortgage was removed in 2008 because it was not a sustainable and profitable product. Many customers were able to continue to roll from a fixed to a tracker rate as was their contractual right. For 20,000 customers during this period, that process worked well. There were customers for whom there was a marginal error, a relatively small operational mistake of 0.15%, which has been redressed and fixed, plus there were 6,000 customers who did not get that contractual right. I am new in role but from all the work I have seen there was no intent to charge incorrectly. No money was taken from a customer's accounts.