Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance the number of personal and or commercial loan accounts in Irish Bank Resolution Corporation, in which he is the shareholder of 100% of the shares, were found to have been charged interest rates in excess of those permitted by contractual arrangements between bank and customer and the amount of money and or credit that was refunded to such accounts in 2009, 2010 and 2011. [55094/12]

Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance if the Irish Bank Resolution Corporation or its predecessor repossessed property and or appointed receivers to assets of any account holder who was charged interest rates in excess of those permitted by contractual arrangements between bank and customer. [55097/12]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 125 and 128 together.

I have been advised that it is not the practice of IBRC to disclose detailed information in relation to the dealings of any individual account holder with the Bank. However, the Bank has informed me that it previously disclosed that it had made a provision of €67m, following an internal review of historical interest rate setting procedures, as applied to certain loan accounts. This internal review, which was conducted in 2010, addressed the period from 1990 to 2005 to determine whether interest rates applied to customer loan accounts were consistent with the terms of the customer loan documentation. The Bank is nearing completion of this project and has made refunds to affected customers. The total cost of the refunds is now estimated at €45m to €50m.

Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance the number of personal and or commercial loan accounts in Allied Irish Banks, in which he is the shareholder of 99.8% of the shares, including the Educational Building Society, were found to have been charged interest rates in excess of those permitted by contractual arrangements between bank and customer and the amount of money and or credit that was refunded to such accounts in 2009, 2010 and 2011. [55095/12]

Michael Noonan (Limerick City, Fine Gael)
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I have been informed by the bank that any queries related to matters such as instances of potential overcharging are dealt with on a case by case basis by the bank with individual customers. Any potential broader issues which affect a greater population of customers are dealt with via established procedures in consultation with the Central Bank as regulator.

Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance the number of personal and or commercial loan accounts in Permanent TSB, in which he is the shareholder of 99.5% of the shares, were found to have been charged interest rates in excess of those permitted by contractual arrangements between bank and customer and the amount of money and or credit that was refunded to such accounts in 2009, 2010 and 2011. [55096/12]

Michael Noonan (Limerick City, Fine Gael)
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I have been advised that Permanent TSB has approximately 1.8 million customer accounts. Given this volume of accounts it is inevitable that from time to time errors will arise and Permanent TSB is committed to minimising such errors, and where they do occur, ensuring that the errors are rectified as soon as possible. Permanent TSB has informed me that in the years 2009-2011 inclusive there have been incorrect interest rates charged on a total of 838 accounts. This represents less than 0.05% of the number of accounts in operation during that time. The total amount of refunds given was €4.3 million, the majority of which occurred in 2010. During this time period PTSB had interest receivable of €3.8 billion so the total amount refunded is just 0.1% of interest receivable in the period.

The data relates to mortgage loans where the customer paid an interest rate in excess of the agreed rate. These errors have been notified through the Banks Customer Impact process or through a project forum from 2009 to date. Customers impacted by these errors have received remediation in compliance with the Consumer Protection Code and the Central Bank was advised as required under that Code.