Michael McGrath (Cork South Central, Fianna Fail)
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255. To ask the Minister for Finance the details of the independent appeals panel established to examine tracker mortgage issues; the membership of the appeals panel; the number of cases dealt with by the panel to date in 2017 for each of the fifteen lenders included in the Central Bank's examination of tracker mortgage related issues; and if he will make a statement on the matter. [47000/17]

Michael McGrath (Cork South Central, Fianna Fail)
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268. To ask the Minister for Finance if each of the fifteen lenders included in the Central Bank's examination of tracker mortgage related issues will provide details of the amount of money provided to affected borrowers for independent professional advice; if the amount or allowance provided for such advice is relative to the amount of redress involved in each case; if it is a fixed amount irrespective of the amount of redress; and if he will make a statement on the matter. [47055/17]

Paschal Donohoe (Dublin Central, Fine Gael)
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I propose to take Questions Nos. 255 and 268 together.

As the Deputy is aware, the Central Bank of Ireland has set out the Framework for Conducting the Tracker Mortgage Examination and the Principles for Redress. The Central Bank has indicated that appeals form an important part of the overall Examination process by ensuring independent and transparent processes to address complaints from customers about the level of redress and/or compensation offered to them. The Central Bank requires lenders to have such appeals processes in place in advance of making redress and compensation payments to impacted customers. The Central Bank has advised that three lenders have now established appeals processes for customers who have received redress and compensation offers as part of the Examination process. T he Central Bank continues to engage with the remaining lenders regarding the setting up of their appeals processes. Redress and compensation are to be paid to impacted customers up front at the point of offer and cannot be reduced by virtue of a customer lodging an appeal. This ensures that a customer’s need to receive payment upfront is not a determining factor in deciding whether or not to appeal an offer from a lender. To assist customers in the consideration of the redress and compensation offers made to them, including whether to make an appeal in respect of the adequacy of the offers, an additional payment is provided to impacted customers at the point of offer to enable them to take professional advice.

Given the key role the appeals process will have in delivering fair outcomes for impacted customers, the Central Bank has also developed and issued guidance to lenders outlining its expectations in respect of the establishment and operation of their appeals processes. This guidance includes the expectation, mentioned above, that redress and compensation paid to customers at the point of offer cannot be reduced by virtue of those customers lodging an appeal. This ensures that a customer’s need to receive payment up front is not a determining factor in deciding whether or not to appeal an offer. Further information can be found within the Central Bank’s , available on the Central Bank’s website.

However, the Central Bank has also advised that, generally speaking, it can only disclose supervisory and regulatory information in a summary or aggregate form so that individual firms cannot be identified. The Central Bank has further indicated that, due to the fact that only a minority of lenders are at appeals stage at this point, the disclosure of data in relation to appeals at this point could be attributed to individual firms.