Market Talk

Market Talk
The Central Bank of Ireland

How much will the tracker debacle cost banks in the end?

The €4.5 million fine imposed by the Central Bank on the sub-prime mortgage lender Springboard has rattled many in the banking industry. Springboard may no longer be in existence – its parent company Permanent TSB has had to pick up the tab – but it is generating quite a bit of attention, sources in the banking world say.

The fine was slapped on Springboard by the regulator for failing to apply the correct rate of interest to 222...

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