Ms Francesca McDonagh:

Letters are going out this Friday as part of the process. We did not send all letters at the same time but letters will go out on Friday to less than half of that group. The other half is made up broadly of the two large groups. There are those who we are tracing, that is, those who have moved away, and there are also the more complex ones, to which the Senator referred. Those are complex ones because they often involve a loss of ownership or extenuating circumstances or vulnerability. Personal cases take longer for us to ensure we have all the information to come to a resolution with the customer. We would expect the average redress and compensation amounts of those to be higher. I mentioned that the highest case so far is for a sum of €363,000. The Senator is right that the average is distorted somewhat by the high volume of lower value customers because of the margin issue. If we look at the range, there is a small number of cases, the top 1%, that are in the €75,000 to €100,000 range. The highest case so far is for €363,000.