Oireachtas Banking Inquiry receives advisory group interim progress report

23/07/2014

The Committee, which has been tasked with preparing a detailed proposal for the banking inquiry, today, Wednesday, 23rd July, 2014 received an interim progress report from the ad hoc advisory group established to provide expert knowledge and input to the Committee in developing a relevant proposal for the inquiry.

Chairman Ciaran Lynch TD: “The report provides a possible conceptual framework for the inquiry. This framework draws on questions raised by members of the Committee and by members of the group. These suggest three broad modules:

• Banking systems;
• Regulatory and supervisory systems; and
• Crisis management systems & policy response.

“A context module is also envisaged. Within each module, a number of sub-modules are suggested.

“The report also outlines the group’s progress to date in scoping the inquiry in terms of the time period, method of investigation and categories of witnesses to be covered by the inquiry. It also contains an outline inquiry plan which sets out the three distinct phases to be covered in the time available: 1. Initial investigation; 2. public hearings; and 3. reporting.

“The plan also provides for a context module which can run in parallel with the investigation phase.

“While more detailed work remains to be done over the next phase of the group’s work, it is clear that the inquiry will have to adopt a targeted and strategic approach to written and oral evidence in order to fit a highly ambitious conceptual inquiry framework in the time available for the inquiry.

“The Committee noted the report and thanked the ad-hoc advisory group comprising specialists from the public and private sectors which continues to work on a pro-bono basis. The group will now work on progressing a more detailed design of the inquiry concept with a view to presenting a further progressed proposal to the Committee in September. The aim is to have a relevant proposal for the inquiry ready for submission to the CPPs of both Houses.”

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