Brendan Ryan (Dublin North, Labour)
Link to this: Individually | In context

Question 84: To ask the Minister for Finance his plans to tackle the discrepancies in variable mortgage rates between State-guaranteed banks; his further plans to tackle the State-guaranteed banks (details supplied) which offer the highest rates of variable interest; and if he will make a statement on the matter. [41214/11]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context

The lending institutions in Ireland, including those in which the State has a significant shareholding, are independent commercial entities. Ultimately the pricing of financial products, including standard variable mortgage interest rates, is a commercial decision for the management team and board of each lending institution, having due regard to their customers and the impact on profitability, particularly where the cost of funding to each lending institution, including deposit pricing, is under pressure.

I have no responsibility for any variation in the variable mortgage rates charged.