Ms Derville Rowland:

We demonstrate this in terms of the numbers included in the tracker mortgage examination.

When we see an issue like this we recognise how important it is for people and how they would wish to be returned to a cheaper tracker rate. We take a very robust view of the interpretation of all of the relevant factors, including the contract. Where we could take a pro-consumer view, we did so. In this particular case, we took the strongest view we reasonably could and then determined an approach. I recognise that AIB prevailing rate customers are disappointed because they have not been returned to a cheaper tracker rate but they were included in the examination and, therefore, they got the benefit of the option to appeal or to exercise any of the other options available to them. We took the strongest reasonable approach we could but we felt we could not challenge the interpretation of AIB further.