The Central Bank has issued a statement in relation to the development of a methodology for the broader examination of tracker mortgage-related issues. All lenders who offered tracker mortgages up to the end of 2015 must have a review framework and plan in place by the end of March 2016 as part of the Central Bank's examination.

Under the plans, banks must (i) identify any cases where the rights of mortgage holders were not fully honoured under their agreements and/or where lenders did not fully comply with the relevant disclosure and transparency requirements; (ii) appoint independent third parties to confirm the adequacy and appropriateness of their reviews; and (iii) submit certain relevant information to the Central Bank.