As the Deputy is aware, the Central Bank’s Tracker Examination is focused on ensuring that lenders provide fair outcomes for all groups of customers impacted by tracker related failings both from a contractual and transparency perspective. The Examination requires all lenders, which offered tracker interest rate mortgages to their customers (including customers who may be Central Bank staff), to review all mortgage accounts, including accounts in arrears, to identify any tracker related failings both from a contractual and transparency perspective. The Central Bank does not make the decision on what is impacted or not- this is the responsibility of the lender. The Central Bank reviews and challenges the lender where appropriate on its conclusion.
The Central Bank does not have a statutory role in investigating individual consumer complaints; however, it uses information that it receives directly from consumers to guide the scope of its broader supervisory work.
The Central Bank advises that it is not in a position to comment on individual firm’s supervisory engagement. The Bank also advises that a further update on the Tracker Mortgage Examination will be published in early 2019.