Michael McGrath (Cork South Central, Fianna Fail)
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139. To ask the Minister for Finance the number of affected mortgage accounts under the Central Bank's tracker mortgage examination, by lender; the number of mortgage accounts with interest rates rectified broken down by lender; the average interest rates of those accounts rectified; the number of PDH and BTL mortgage accounts that have received compensation by lender; the average compensation rate by lender, in tabular form; and if he will make a statement on the matter. [15966/17]

Michael Noonan (Limerick City, Fine Gael)
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The Central Bank of Ireland published a report providing a further update on the Examination of Tracker Mortgage Related Issues on 23 March. The report is the latest in a series of status updates since the Examination commenced and sets out the progress being made by lenders in completing the review. The report also sets out information on the Central Bank's enforcement powers and activity in response to the tracker mortgage issues identified to date. The Examination Framework, the Principles for Redress and the Appeals Process set out by the Central Bank have also been published, in conjunction with the report.

In all, approximately 9,900 customer accounts have been identified as impacted by lenders, as part of the Examination, as at end February 2017. The Central Bank also identified 7,100 accounts where a tracker-related issue was resolved before the commencement of the system-wide Tracker Mortgage Examination. Lenders have commenced contacting impacted customers identified as at end February 2017 and have rectified the interest rates applied to such impacted customers' accounts, thus stopping further detriment. As at the date of the Report, interest rates have been rectified on more than 90% of the accounts that require such rectification.

To end February 2017, approximately €78m has been paid in redress and compensation to approximately 2,600 impacted customers identified as part of the Examination.

Due to statutory confidentiality requirements, the Central Bank has advised me that it may not publicly disclose much of its supervisory engagement with individual firms.  In particular, the Central Bank can, generally speaking, only disclose such information in summary or aggregate form so that individual firms cannot be identified. The Central Bank has to be careful that any public disclosures made by it do not breach its statutory confidentiality requirements or prejudice any ongoing or possible future supervisory or enforcement actions.