The first cut in interest rates came from IIB Home Loans. Not alone was it the first, but it also passed on the full ECB reduction to its consumers. It took another two days before there was a budge from any of the other lending institutions. On Monday, the country's biggest mortgage lender, Permanent TSB, followed suit by passing on to its customers the full value of the ECB reduction. It was joined by NIB and ACC Bank. However, the two biggest players in the banking market, AIB and Bank of Ireland, held their cards close to their chests by demonstrating a characteristic tardiness in disclosing their intentions. Despite the fact that AIB is by far the country's biggest lending bank, and despite the headlines set by those who had made earlier announcements, AIB failed to pass on the 0.5% cut, resorting instead to a reduced cut of 0.38%. This was also the reduction conceded by the EBS.