Neither I nor officials from the Department of Finance have responsibility for the decisions of KBC Bank regarding the passing on of the ECB interest rate reductions to mortgage customers, nor have I any powers to compel the Bank to make a statement on the interest rate that is charged to their mortgage customers. The lending institutions in Ireland are independent commercial entities. Ultimately the pricing of financial products, including standard variable mortgage interest rates, is a commercial decision for the management team and board of each lending institution, having due regard to their customers and the impact on profitability, particularly where the cost of funding to each lending institution, including deposit pricing, is under pressure. The Deputy will be aware of the Central Bank's Code of Conduct on Mortgage Arrears, a copy of which can be accessed on www.centralbank.ie.