Ms Gráinne McEvoy:

No, the Central Bank does not determine the rate. The rates are commercial decisions determined by the institution offering the services in Ireland. That rate is up to the maximum, and the range is from 17% to 187%. There are two other important points in this regard. First, if we look at the UK regime, it has imposed a cap on the total cost of credit of 100% for a moneylending loan of up to one year. In comparison, in the Irish market the total cost of credit in that context for loans from providers for up to one year is 56%. That is a little over half the rate applied under the UK model. Second, taking the APRs for periods up to three years, the average is 76%. Those are important points to highlight, and the information is available on our website and on the register.