Hogmeister55
Registered User
- Messages
- 27
I missed it so am in shock when I read his comments re BOI staff. Why would he make this statement at this hearing? Why do it in such a public manner instead of advising the staff themselves? Did he give any reasons for making this statement?
A few quick observations:-
- I was very surprised at Padraic's reluctance to criticise the Central Bank's failure to put in place a transparent, time-bound review process and I sensed a number of Committee members shared my surprise in this regard.
- I was, frankly, stunned when Pádraig said that he now advises BOI borrowers that switched from trackers to avail of the discounted staff products not to engage him.
- While I think the relevant banks are on very shaky legal ground (to put it mildly) regarding the "prevailing" tracker issue, I wouldn't necessarily agree with Padraic's view that the phrase simply refers to the variable nature of the underlying reference rate.
- I struggled to follow the logic of the response to the question posed by Peter Burke TD (Fine Gael) towards the end of the session (although I suspect fatigue was an issue by that stage).
Is everything down to Pádraic Kissane?
I think to speed the process up the central bank should order that all mortgages still under investigation be put on a tracker rate until the review is complete. This should be at the banks expense even if the mortgage is subsequently denied a tracker and returned to another rate.
You would be surprised how quick this review can be done then.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?