The EBS is to reduce its standard variable interest rate by 0.25% from 4.93% to 4.68%, the bank announced today.
The reduction will apply from December 1, and follows the ECB reduction of the same amount last week.
The reduction in repayments on a loan of €100,000 is €14.
In contrast, National Irish Bank has said it will raise its mortgage interest rate by 1% on Friday.
The Financial Regulator, Matthew Elderfield has confirmed he does not have the power to compel the bank to pass on the ECB rate cut.