Oireachtas Banking Inquiry Committee considers design for Nexus Phase of Inquiry

12/02/2015

The Oireachtas Banking Inquiry today considered a design for public hearings for the Nexus Phase of the Inquiry.

The Nexus Phase, when the Committee will engage with institutions and individuals who had roles during the crisis, will focus on three broad elements — Banking Systems & Practices; Regulatory and Supervisory Systems & Practices; and Crisis management systems and policy responses — and how these three elements interacted with each other.

Chairman Ciaran Lynch TD: “Today the Committee considered the design for the public hearings for the Nexus Phase. This phase is scheduled to start on 22nd April, with a total of 64 public hearings planned until September. It is envisaged that around 50 witnesses will be called to the public hearings. Those who have relevant testimony but who will not be called for public hearings will be required to provide witness statements.

“The process will see Committee Members receiving in-depth briefings on Tuesdays ahead of public hearings on Wednesdays and Thursdays. Public hearings will start at 9.30am and conclude at 5.30pm.

“This will represent a significant step-up in activity for the Committee and the Banking Inquiry team based in the Inquiry support centre. The key differences between the Nexus and the Context witness process are not only the volume of witnesses and the number of planned hearings, but also the legal compellability of witnesses, the legal compellability of statements, the requirement to produce and issue an evidence book, the intent to secure evidence in hearings and statements and the intent to cross reference for contrarian and confirming views.

“This is the first inquiry of its type to take place under new legislation. Therefore, the onus is on us to make sure we get everything right from the start and it is critical that the proper preparations are put in place.”

All media enquiries in relation to the Oireachtas Banking Inquiry should be addressed to:

Ciaran Brennan,
Houses of the Oireachtas,
Communications Unit,
Leinster House,
Dublin 2

P: +3531 618 3903
M: 086-0496518
F: +3531 618 4551

Committee Membership

Deputies

Ciarán Lynch (Chairman)
Pearse Doherty
Joe Higgins
Michael McGrath
Eoghan Murphy
Kieran O’Donnell
John Paul Phelan

Senators

Sean D Barrett
Michael D’Arcy
Marc MacSharry
Susan O’Keeffe