Jim Stafford
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failures to Stop the Harm to its customers during the conduct of the TME;
Brendan
That is a useful summary of the factors considered.
We are starting to see a trickle of compensation cheques coming out in relation to "stop the harm" scenarios i.e. cases where banks persisted in legal enforcement even though they had been instructed by the Central Bank not to do so whilst they were assessing tracker cases.
The Central Bank have alluded to these type of scenarios but they have not yet quantified how many such cases will be entitled to compensation. Technically, the initial compensation cheques for the wrong rate of interest was purely based on a mathematical calculation of the interest charges, and did not take into account consequential losses etc.
Jim Stafford