Enda Kenny (Mayo, Fine Gael) | Oireachtas source

-----and their application to issues related to mortgages and mortgage distress. This was a commercial decision by a bank which the Government considers to be a pillar bank for the future, along with Bank of Ireland, and if it continues to charge an unsustainably low rate for variable-rate mortgages the impact will be that 2.1 million taxpayers are required to subsidise the bank even further in respect of the 70,000 mortgage holders who are experiencing difficulties.

The code on mortgage arrears means that banks and other lending institutions have the opportunity to sit down with each of the individuals and families involved to work out a solution. AIB's standard variable rate of 4% will remain the lowest in the market. These decisions are taken by the board of a bank-----

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