Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

I thank the Deputy for his comments. Some of the issues raised in his second intervention will I hope be addressed by the banking inquiry. He delved into very important but more general issues than variable mortgage rates. As I said, the Governor of the Central Bank informed me that work had commenced in the Central Bank on this very issue. It is establishing the fact based position in terms of what level of margin is excessive. Very shortly, when that analytical work has been completed-----

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