131 Deputy Dara Calleary asked the Minister for Finance if his attention has been drawn to the decision of Bank of Ireland to change its method of calculating interest rates on term lending facilities from the current Euribor-Euro interbank derived reference rates to a reference rate based on bank cost of funds; if his further attention has been drawn to the fact that this change will result in substantial interest rate increases for small business; if he has consulted the public interest directors regarding same; and if he will make a statement on the matter. [35970/11]

Summary

131 Deputy Dara Calleary asked the Minister for Finance if his attention has been drawn to the decision of Bank of Ireland to change its method of calculating interest rates on term lending facilities from the current Euribor-Euro interbank derived reference rates to a reference rate based on bank cost of funds; if his further attention has been drawn to the fact that this change will result in substantial interest rate increases for small business; if he has consulted the public interest directors regarding same; and if he will make a statement on the matter. [35970/11]

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• Interest Rates

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