Brendan Burgess
Founder
- Messages
- 52,046
As a condition of the state aid to Bank of Ireland, the EU insisted on certain conditions to promote competition in the banking sector.
These are contained in Annex II of the decision.
Annex II is attached to this post.
Based on this, the Irish Competition Commission has declined to investigate competition in Irish banking in a letter to Michael McGrath.
It's so frustrating. Because the banks will implement a current account switching code, everything is fine. They have no grasp at all of the importance of mortgage rates. Some people are overpaying by around €6,000 a year due to high mortgage rates, whereas a current account probably has charges of around €80 a year.
These are contained in Annex II of the decision.
Annex II is attached to this post.
Based on this, the Irish Competition Commission has declined to investigate competition in Irish banking in a letter to Michael McGrath.
It's so frustrating. Because the banks will implement a current account switching code, everything is fine. They have no grasp at all of the importance of mortgage rates. Some people are overpaying by around €6,000 a year due to high mortgage rates, whereas a current account probably has charges of around €80 a year.