Banking Inquiry Committee makes preliminary contact with potential witness groups

14/11/2014

The Oireachtas Banking Inquiry Committee has started the process of writing to categories of persons and organisations to which its terms of reference may relate.

Chairman Ciaran Lynch TD: “The motions in the Houses to establish the inquiry are expected to be taken in a matter of weeks, with work starting immediately and the Inquiry in place and in full operation after that. Therefore, we are presently making preliminary contact with persons or categories of persons to whom the terms of reference of the inquiry may relate, in order to establish and put in place clear lines of communication at this early stage. However, this should not be taken as an indication that all these persons or organisations will in fact be called before the inquiry or asked for documents or other evidence. Essentially, by taking this action, what we are asking for is that a person be designated in the various organisations with whom the Inquiry secretariat can liaise directly regarding our work.”

The Inquiry proposal agreed by the Committee sets out to address the reasons Ireland experienced a systemic banking crisis, including the political, economic, cultural, financial and behavioural factors and policies which impacted or contributed to the crisis, and to do this by investigating the relevant matters relating to banking systems and practices, regulatory and supervisory systems and practices, crisis management systems, and policy responses ad the preventative reforms implemented in the wake of the crisis.

The Context Phase of the Inquiry which is expected to commence in the coming weeks will consist of technical briefings for the Committee in areas such as bank lending and liquidity management, mortgage exposures, and the nature, cost and scope of the guarantee decision. There will be public hearings with relevant witnesses for the purpose of information-gathering to inform the Nexus Phase of the Inquiry which will focus on three broad elements:

•    Banking Systems & Practices,
•    Regulatory and Supervisory Systems & Practices, and
•    Crisis management systems and policy responses.

For more information on the Committee, click here.

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