Michael Healy-Rae (Kerry, Independent)
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134. To ask the Minister for Finance the status of tracker mortgage redress for persons that are awaiting refunds; when he last met the banks regarding the matter; when he plans to meet them again; and if he will make a statement on the matter. [26246/18]

Paschal Donohoe (Dublin Central, Fine Gael)
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As the Deputy is aware, the Central Bank is independent in the performance of its duties in the supervision of regulated financial service providers and it is working to ensure that the tracker mortgage examination is completed as soon as possible. The Bank provided a comprehensive update on the Tracker Mortgage Examination in April 2018, which is available at: .

The April update report indicated that:

- the total number of customers identified through the Examination to end-March 2018 is c. 30,000 (of which 1,500 remain to be verified by lenders);

- 88% of identified and verified customer accounts have received offers of redress and compensation. Offers of redress and compensation are expected to be made in respect of the remaining 12% of identified and verified customer accounts by end-June 2018;

- payments may extend beyond that date for any newly identified and verified customers from the time of the April update. However, as redress and compensation schemes are underway across all lenders, the Central Bank expects that any such additional accounts will be swiftly remediated;

- total redress and compensation of €459 million has been paid to end-March 2018, an increase of €162 million since the December 2017 update which the Central Bank also published. The €459 million figure comprises €412 million paid to end-March through the Examination and €47 million paid outside of the Examination.

As part of the Tracker Mortgage Examination, intensive review and challenge of lenders by the Central Bank remains ongoing. It should be noted that verification work by lenders, and review and challenge by the Central Bank, may lead to some further increase in the number of affected customers before conclusion of the Examination.

The Central Bank has challenged, and will continue to challenge, lenders in relation to various strands of the Examination until it is satisfied that all affected customers are identified and lenders have carried out the Examination in accordance with the Framework set down by the Central Bank.

In relation to my meetings with banks, I have regular meetings with the CEOs of the banks in which the State has a shareholding as well as with the non-Irish owned retail banks operating in the Irish market. I met formally with KBC in February, with Bank of Ireland, AIB and PTSB in March, and with Ulster Bank in May during which a broad range of banking matters including progress on the tracker mortgage examination were discussed. While no dates have been scheduled for my next meetings, I remain committed to meeting the main banks on a regular basis.